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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Apr. 03, 2021
Jan. 02, 2021
Current Assets    
Cash and cash equivalents $ 17,464,669 $ 16,101,635
Marketable securities 29,224 28,951
Accounts receivable, less allowances: 2021 - $618,000; 2020 - $545,000 42,228,264 37,749,129
Inventories 53,960,426 53,112,393
Current portion of notes receivable 459,863 398,414
Prepaid expenses and other assets 5,341,214 4,345,250
Total Current Assets 119,483,660 111,735,772
Property, Plant and Equipment 86,539,328 88,198,093
Accumulated depreciation (47,244,599) (48,246,120)
Property, Plant and Equipment, Net 39,294,729 39,951,973
Goodwill 76,921,385 76,895,015
Trademarks 5,404,284 5,404,284
Patents and other intangibles, net of accumulated amortization 25,958,715 27,096,006
Long-term debt, less current portion 1,547,503 1,677,277
Right of Use Assets 12,882,498 12,768,027
Other Assets 122,714,385 123,840,609
TOTAL ASSETS 281,492,774 275,528,354
Current Liabilities    
Accounts payable 25,357,557 23,507,719
Accrued compensation 2,520,725 3,675,223
Other accrued expenses 4,785,793 4,121,568
Current portion of lease liability 3,039,689 2,923,761
Current portion of long-term debt 7,062,689 6,437,689
Total Current Liabilities 42,766,453 40,665,960
Deferred income taxes 2,899,074 2,899,075
Other long-term liabilities 1,144,127 1,144,127
Lease liability 9,871,835 9,883,168
Long term notes receivable, less current portion 80,468,737 82,255,803
Accrued postretirement benefits 1,168,262 1,185,139
Accrued pension cost 32,443,297 33,188,623
Total Liabilities 170,761,785 171,221,895
Shareholders' Equity    
Voting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares 0 0
Nonvoting Preferred Stock, no par value:Authorized and unissued: 1,000,000 shares 0 0
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 9,003,230 shares in 2021 and 8,996,625 shares in 2020 Outstanding: 6,253,501 shares in 2021 and 6,246,896 shares in 2020 31,779,299 31,501,041
Treasury Stock: 2,749,729 shares in 2021 and 2,749,729 shares in 2020 (20,537,962) (20,537,962)
Retained earnings 128,356,468 122,840,131
Accumulated other comprehensive income (loss):    
Foreign currency translation 874,810 953,864
Unrealized loss on marketable securities, net of tax (4,302) (4,507)
Unrealized loss on interest rate swap, net of tax (974,045) (1,387,085)
Unrecognized net pension and postretirement benefit costs, net of tax (28,763,279) (29,059,023)
Accumulated other comprehensive loss (28,866,816) (29,496,751)
Total Shareholders' Equity 110,730,989 104,306,459
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 281,492,774 $ 275,528,354