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Condensed Consolidated Balance Sheets (USD $)
Aug. 29, 2014
May 30, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 1,451,432 $ 1,160,630
Receivables, net 11,055,988 11,341,024
Inventories:    
Raw materials and supplies 2,587,047 2,123,313
Finished goods 3,808,838 3,536,326
Inventories, net 6,395,885 5,659,639
Prepaid expenses 1,210,911 1,277,861
Accrued income taxes 129,359  
Deferred income taxes 559,672 559,672
Total current assets 20,803,247 19,998,826
Property, plant and equipment, net 24,789,997 25,671,344
Other assets 1,777,769 1,810,096
Total 47,371,013 47,480,266
CURRENT LIABILITIES    
Checks outstanding in excess of bank balances 2,136,250 1,971,076
Accounts payable 3,656,847 3,719,102
Accrued income taxes 476,307 378,659
Current portion of long-term debt 373,317 369,979
Other accrued expenses 5,659,315 5,953,171
Salary continuation plan 187,058 212,970
Line of credit outstanding 2,231,656 2,528,511
Total current liabilities 14,720,750 15,133,468
LONG-TERM LIABILITIES    
Notes payable - bank, non-current 4,850,013 4,944,233
Salary continuation plan 917,288 920,184
Deferred income taxes 2,969,389 2,969,389
Total long-term liabilities 8,736,690 8,833,806
STOCKHOLDER'S EQUITY    
Common stock - $.66-2/3 par value: 35,000,000 shares authorized Issued 13,828,793 shares 9,219,195 9,219,195
Additional paid-in capital 6,497,954 6,497,954
Retained earnings 19,129,043 18,728,462
Stockholder's equity before treasury stock 34,846,192 34,445,611
Less: Cost of common shares in treasury (2,096,161 shares at August 29, 2014 and May 30, 2013) (10,932,619) (10,932,619)
Total stockholder's equity 23,913,573 23,512,992
Total $ 47,371,013 $ 47,480,266