Note 2. Property and Equipment

6 Months Ended

Sep. 30, 2014

Notes

Note 2. Property and Equipment

Note 2. Property and Equipment

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

	IFC		Morris			Smith			Total
Land, Buildings and Improvements	$	-	$	1,969		$	15,797		$	17,766
Tractors and Trailers		-		2,418,950			2,882,980			5,301,930
Vehicles		-		29,934			106,407			136,341
Furniture, Fixtures and Equipment		-		222,781			284,625			507,406
Less: accumulated depreciation		-		(1,514,725	)		(3,125,406	)		(4,640,131	)
Total	$	-	$	1,158,909		$	164,403		$	1,323,312

Depreciation expense totaled $295,163 and $468,457 for the six months ended September 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