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Consolidated Balance Sheets - USD ($)
Jun. 26, 2022
Mar. 27, 2022
Current assets:    
Cash and cash equivalents $ 3,005,900 $ 1,754,000
Trade accounts receivable, net 80,029,700 75,546,300
Product inventory, net 59,785,800 55,945,300
Income taxes receivable 529,900 4,293,400
Prepaid expenses and other current assets 4,449,900 2,961,700
Total current assets 147,801,200 140,500,700
Property and equipment, net 10,658,100 10,835,900
Intangible assets, net 33,447,700 30,595,600
Income taxes receivable, non-current 3,118,600 3,118,600
Lease asset - right of use 8,317,100 8,910,400
Other long-term assets 8,675,000 8,552,100
Assets 212,017,700 202,513,300
Current liabilities:    
Trade accounts payable 71,089,000 65,254,900
Payroll, benefits and taxes 5,471,900 5,230,500
Sales tax liabilities 714,900 1,188,100
Accrued expenses and other current liabilities 1,463,300 1,455,500
Lease liability, current 2,592,500 2,566,300
Current portion of long-term debt 340,900 340,300
Total current liabilities 81,672,500 76,035,600
Deferred tax liabilities, net 145,600 145,600
Revolving line of credit 41,675,000 36,914,600
Non-current lease liability 5,921,900 6,586,200
Long-term debt 6,036,400 6,155,000
Other non-current liabilities 737,400 753,200
Total liabilities 136,188,800 126,590,200
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, 9,176,584 shares issued and 9,132,796 shares outstanding as of June 26, 2022, and 9,013,449 shares issued and 8,994,249 shares outstanding as of March 27, 2022 107,100 105,900
Additional paid-in capital 69,482,900 69,166,100
Treasury stock, at cost, 43,788 shares as of June 26, 2022 and 19,200 shares as of March 27, 2022 (266,300) (129,200)
Retained earnings 6,505,200 6,780,300
Total shareholders' equity 75,828,900 75,923,100
Total liabilities and shareholders' equity $ 212,017,700 $ 202,513,300