Note L - Stockholders' Equity

9 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE L — STOCKHOLDERS’ EQUITY

The following tables reflect the changes in stockholders’ equity for each of the nine month periods ended  December 31, 2021 and December 31, 2020:

			Accumulated
			Other
			Comprehensive			Additional
	Common		Income (Loss),			Paid-In			Treasury			Retained
	Stock		Net of Tax			Capital			Stock			Earnings			Total
BALANCE AT MARCH 31, 2021	$	8,334,785		(11,187,841	)	$	30,003,462		$	(7,203,342	)	$	45,392,912		$	65,339,976
Net earnings		—		—			—			—			11,311,797			11,311,797
Other comprehensive loss		—		(13,693,337	)		—			—			—			(13,693,337	)
Paid in capital – restricted stock awards		—		—			121,704			—			—			121,704
Cash dividends ($0.02 per share)		—		—			—			—			(137,865	)		(137,865	)
BALANCE AT JUNE 30, 2021	$	8,334,785	$	(24,881,178	)	$	30,125,166		$	(7,203,342	)	$	56,566,844		$	62,942,275
Net earnings		—		—			—			—			13,177,614			13,177,614
Other comprehensive income		—		4,227,185			—			—			—			4,227,185
Issuance of restricted stock		6,000		—			(6,000	)		—			—			—
Paid in capital – restricted stock awards		—		—			126,037			—			—			126,037
Cash dividends ($0.02 per share)		—		—			—			—			(138,110	)		(138,110	)
BALANCE AT SEPTEMBER 30, 2021	$	8,340,785	$	(20,653,993	)	$	30,245,203		$	(7,203,342	)	$	69,606,348		$	80,335,001
Net loss		—		—			—			—			(2,961,833	)		(2,961,833	)
Other comprehensive income		—		13,795,418			—			—			—			13,795,418
Issuance of restricted stock		4,190		—			(4,190	)		—			—			—
Paid in capital – restricted stock awards		—		—			128,194			—			—			128,194
Repurchase of shares		—		—			—			(102,075	)		—			(102,075	)
Cash dividends ($0.02 per share)		—		—			—			—			(138,024	)		(138,024	)
BALANCE AT DECEMBER 31, 2021	$	8,344,975	$	(6,858,575	)	$	30,369,207		$	(7,305,417	)	$	66,506,491		$	91,056,681

			Accumulated
			Other
			Comprehensive		Additional
	Common		Income (Loss),		Paid-In			Treasury			Retained
	Stock		Net of Tax		Capital			Stock			Earnings			Total
BALANCE AT MARCH 31, 2020	$	8,295,160		—	$	29,565,416		$	(5,525,964	)	$	34,530,755		$	66,865,367
Net loss		—		—		—			—			(858,862	)		(858,862	)
Issuance of restricted stock		11,000		—		(11,000	)		—			—			—
Paid in capital – restricted stock awards		—		—		110,814			—			—			110,814
Cash dividends ($0.02 per share)		—		—		—			—			(143,229	)		(143,229	)
BALANCE AT JUNE 30, 2020	$	8,306,160	$	—	$	29,665,230		$	(5,525,964	)	$	33,528,664		$	65,974,090
Net loss		—		—		—			—			(250,005	)		(250,005	)
Paid in capital – restricted stock awards		—		—		110,813			—			—			110,813
Repurchase of shares		—		—		—			(410,221	)		—			(410,221	)
Cash dividends ($0.02 per share)		—		—		—			—			(143,181	)		(143,181	)
BALANCE AT SEPTEMBER 30, 2020	$	8,306,160	$	—	$	29,776,043		$	(5,936,185	)	$	33,135,478		$	65,281,496
Net earnings		—		—		—			—			2,129,745			2,129,745
Other comprehensive income		—		2,657,923		—			—			—			2,657,923
Issuance of restricted stock		28,625		—		(28,625	)		50,000			—			50,000
Paid in capital – restricted stock awards		—		—		104,736			—			—			104,736
Repurchase of shares		—		—		—			(733,135	)		—			(733,135	)
Cash dividends ($0.02 per share)		—		—		—			—			(137,867	)		(137,867	)
BALANCE AT DECEMBER 31, 2020	$	8,334,785	$	2,657,923	$	29,852,154		$	(6,619,320	)	$	35,127,356		$	69,352,898