Discontinued Operations (Tables)

6 Months Ended

Jul. 02, 2022

Discontinued Operations (see note B)

Schedule Income From Discontinued Operations

	Three Months Ended						Six Months Ended
	July 2, 2022			July 3, 2021			July 2, 2022			July 3, 2021
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Net sales	$	2,473,201		$	13,693,457		$	4,840,427		$	25,017,899
Cost of products sold		(1,683,295	)		(11,139,886	)		(3,287,057	)		(21,044,606	)
Gross margin		789,906			2,553,571			1,553,370			3,973,293
Selling, general and administrative expenses		(289,497	)		(1,280,570	)		(546,557	)		(2,313,397	)
Restructuring costs					(10,583,078	)					(10,583,078	)
Operating income (loss)		500,409			(9,310,077	)		1,006,813			(8,923,182	)
Interest expense		(40,846	)		(144,715	)		(76,064	)		(320,429	)
Gain (Loss) from discontinued operations before income taxes		459,563			(9,454,792	)		930,749			(9,243,611	)
Income tax (expense) benefit		(123,737	)		2,225,658			(250,604	)		2,175,946
Income (loss) from discontinued operations, net of tax	$	335,826		$	(7,229,134	)	$	680,145		$	(7,067,665	)

Schedule Of Assets And Liabilities From Discontinued Operations

	July 2, 2022		January 1, 2022
	(unaudited)
Cash	$	84,186	$	434,126
Accounts receivable		1,097,596		1,153,274
Inventory		3,031,820		1,258,032
Prepaid expenses		24,022		59,850
Property, plant and equipment, net		550,601		591,920
Right of use assets		255,438		24,697
Total assets of discontinued operations¹	$	5,043,663	$	3,521,899
Accounts payable	$	409,295	$	167,794
Accrued compensation and other accrued expenses		433,023		388,499
Current portion of lease liability		92,887		24,697
Other long-term liabilities		162,552		-
Total liabilities of discontinued operations¹	$	1,097,757	$	580,990