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CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 12 Months Ended
--- | ---
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013
Net Sales | $ 39,308,281 | $ 31,379,629 | $ 34,437,774
Cost of Goods Sold | 30,997,211 | 24,273,038 | 26,368,945
Gross Profit | 8,311,070 | 7,106,591 | 8,068,829
Operating Expenses |  |  |
Selling expenses | 3,104,598 | 2,402,153 | 3,078,340
General and administrative expenses | 4,507,606 | 4,257,335 | 3,310,325
Depreciation | 130,254 | 168,138 | 110,267
Total Operating Expenses | 7,742,458 | 6,827,626 | 6,498,932
Income from Operations | 568,612 | 278,965 | 1,569,897
Other Expenses |  |  |
Interest expense | (253,282) | (53,446) | (48,421)
Financing costs | (52,471) | 0 | 0
Net Other Expenses | (305,753) | (53,446) | (48,421)
Income before income tax (provision ) benefit | 262,859 | 225,519 | 1,521,476
Income tax (provision) benefit | (92,701) | 778,797 | 1,619,459
Net Income | $ 170,158 | $ 1,004,316 | $ 3,140,935
Income per Common Share |  |  |
Basic (in dollar per share) | $ 0 | $ 0.03 | $ 0.08
Diluted (in dollar per share) | $ 0 | $ 0.03 | $ 0.08
Weighted Average Common and Common Equivalent Shares: |  |  |
Basic (in shares) | 38,097,226 | 38,057,628 | 37,973,309
Diluted (in shares) | 38,602,577 | 38,647,290 | 38,360,324

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