Annual report pursuant to Section 13 and 15(d)

Note 2 - Property and Equipment

v3.5.0.1
Note 2 - Property and Equipment
12 Months Ended
Mar. 31, 2016
Notes  
Note 2 - Property and Equipment
Note 2 – Property and equipment

Property and equipment consisted of the following as of March 31, 2016 and 2015:

 

 

 

For the Years Ending March 31,

 

 

2016

 

 

2015

Office furniture and equipment

$

        968,135

 

$

        937,274

Service and shop equipment

 

        577,240

 

 

        573,233

Vehicles

 

      2,715,920

 

 

      3,040,439

Land and buildings

 

      6,733,415

 

 

      6,746,597

Total property and equipment

 

    10,994,710

 

 

    11,297,543

Accumulated depreciation

 

    (2,761,799)

 

 

    (2,021,578)

Net property and equipment

$

      8,232,911

 

$

      9,275,965

 

Depreciation expense for the years ended March 31, 2016 and 2015 are as follows:

 

 

 

For the Years Ending March 31,

 

 

2016

 

 

2015

Cost of Goods Sold

$

        474,539

 

$

        582,088

General and administrative

 

        516,786

 

 

        558,231

Total

$

        991,325

 

$

      1,140,319