Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
Jun. 30, 2020 |
Jun. 30, 2019 |
| OPERATING ACTIVITIES |
|
|
|
| Net income |
$ 2,411,865
|
|
$ 3,607,419
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
129,620
|
|
134,733
|
| Stock-based compensation |
2,707
|
|
|
| Deferred income taxes |
(50,405)
|
|
(664)
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
396,168
|
|
248,955
|
| Inventories |
(59,288)
|
|
45,093
|
| Prepaid expenses and other assets |
(30,703)
|
|
205,399
|
| Accounts payable and other liabilities |
372,463
|
|
296,693
|
| Net cash provided by operating activities |
3,172,427
|
|
4,537,628
|
| INVESTING ACTIVITIES |
|
|
|
| Purchases of fixed assets |
|
|
(16,100)
|
| Purchases of marketable securities |
|
|
(3,013,530)
|
| Proceeds from maturities of marketable securities |
|
|
9,500,000
|
| Cash provided by investing activities |
|
|
6,470,370
|
| FINANCING ACTIVITIES |
|
|
|
| Payment of dividends to shareholders |
(4,835,038)
|
|
(4,846,010)
|
| Cash used in financing activities |
(4,835,038)
|
|
(4,846,010)
|
| (Decrease) increase in cash and cash equivalents |
(1,662,611)
|
|
6,161,988
|
| Cash and cash equivalents at beginning of period |
8,065,594
|
[1] |
6,877,304
|
| Cash and cash equivalents at end of period |
6,402,983
|
|
13,039,292
|
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the period for income taxes |
|
|
|
|
|