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Fair Value Measurements
3 Months Ended
Apr. 01, 2012
Fair Value Measurements [Abstract]  
Fair Value Measurements [Text Block]

Note E — Fair Value Measurements

As of April 1, 2012 and January 1, 2012, the fair value of cash and cash equivalents, accounts receivable, inventory, accounts payable and accrued expenses and other current liabilities approximated their carrying value based on the short maturity of these instruments.  The fair value of long-term mortgage financing is determined using current applicable interest rates for similar instruments and collateral as of the balance sheet date.  The carrying value and estimated fair value of the Company’s mortgage loan were $18,068,000 and $19,337,000, respectively, as of April 1, 2012 compared to $18,332,000 and $19,644,000, respectively, at January 1, 2012.  

 

There were no assets and liabilities measured at fair value on a nonrecurring basis during the first quarter of fiscal 2012 or 2011.