Note 2. Property and Equipment

3 Months Ended

Jun. 30, 2014

Notes

Note 2. Property and Equipment

2. Property and Equipment

Property and equipment consist of the following at June 30, 2014:

	IFC		Morris			Smith			Total
Land, Buildings and Improvements	$	-	$	1,969		$	15,797		$	17,766
Tractors and Trailers		-		3,274,557			2,882,981			6,157,538
Vehicles		-		29,934			106,407			136,341
Furniture, Fixtures and Equipment		-		221,828			284,625			506,453
Less: accumulated depreciation		-		(1,884,303	)		(3,119,337	)		(5,003,640	)
Total	$	-	$	1,643,985		$	170,473		$	1,814,458

Depreciation expense totaled $147,582 and $207,582 for the three months ended June 30, 2014 and 2013

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			506,453
Less: accumulated depreciation		-		(1,742,790	)		(3,117,801	)		(4,860,591	)
Total	$	-	$	1,785,498		$	176,541		$	1,962,039