Note 2. Property and Equipment

12 Months Ended

Mar. 31, 2015

Notes

Note 2. Property and Equipment

Note 2. Property and Equipment

Property and equipment consist of the following at March 31, 2015:

	IFC		Morris			Smith			Total
Land, Buildings and Improvements	$	-	$	-		$	15,797		$	15,797
Tractors and Trailers		-		1,265,759			2,841,458			4,107,217
Vehicles		-		-			106,407			106,407
Furniture, Fixtures and Equipment		-		10,897			284,625			295,522
Less: accumulated depreciation		-		(709,462	)		(3,057,554	)		(3,767,016	)
Total	$	-	$	567,194		$	190,733		$	757,927

Depreciation expense totaled $526,910 for the year ended March 31, 2015

Property and equipment consist of the following at March 31, 2014:

	IFC		Morris			Smith			Total
Land, Buildings and Improvements	$	-	$	1,969		$	15,797		$	17,766
Tractors and Trailers		-		3,274,557			2,887,513			6,162,070
Vehicles		-		29,934			106,407			136,341
Furniture, Fixtures and Equipment		-		221,828			284,625			509,453
Less: accumulated depreciation		-		(1,742,790	)		(3,117,801	)		(4,860,591	)
Total	$	-	$	1,785,498		$	176,541		$	1,962,039

Depreciation expense totaled $926,622 for the year ended March 31, 2014.