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Consolidated Balance Sheets - USD ($)
Mar. 29, 2020
Mar. 31, 2019
Current assets:    
Cash and cash equivalents $ 50,000 $ 30,300
Trade accounts receivable, net 82,868,400 93,966,200
Product inventory, net 69,148,000 71,845,400
Prepaid expenses and other current assets 11,707,500 5,562,800
Total current assets 163,773,900 171,404,700
Property and equipment, net 13,433,700 15,003,500
Goodwill   11,677,700
Intangible assets, net 11,157,400 5,893,200
Deferred tax assets 3,032,500 55,300
Lease asset - right of use 13,949,800  
Other long-term assets 3,361,400 2,461,400
Total assets 208,708,700 206,495,800
Current liabilities:    
Trade accounts payable 75,512,600 73,059,700
Payroll, benefits and taxes 4,258,300 5,929,500
Income and sales tax liabilities 450,800 749,000
Accrued expenses and other current liabilities 4,244,400 2,652,400
Revolving line of credit 25,563,900 14,378,100
Lease liability, current 2,579,200  
Total current liabilities 112,609,200 96,768,700
Non-current lease liability 11,481,100  
Other non-current liabilities 915,700 939,900
Total liabilities 125,006,000 97,708,600
Shareholders’ equity:    
Preferred stock, $0.01 par value per share, 500,000 shares authorized and no shares issued and outstanding
Common stock, $0.01 par value per share, 15,000,000 shares authorized, 14,354,368 shares issued and 8,577,549 shares outstanding as of March 29, 2020, and 14,190,027 shares issued and 8,468,529 shares outstanding as of March 31, 2019 101,400 99,800
Additional paid-in capital 65,318,500 62,666,400
Treasury stock, at cost, 5,776,819 shares as of March 29, 2020 and 5,721,498 shares as of March 31, 2019 (58,496,200) (57,614,100)
Retained earnings 76,779,000 103,635,100
Total shareholders’ equity 83,702,700 108,787,200
Total liabilities and shareholders’ equity $ 208,708,700 $ 206,495,800