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Consolidated Balance Sheets - USD ($)
May. 29, 2015
May. 30, 2014
May. 31, 2013
CURRENT ASSETS      
Cash and cash equivalents $ 1,159,449 $ 1,160,630 $ 757,111
Receivables:      
Trade accounts 11,129,302 11,333,609  
Other 26,387 77,415  
Receivables, gross 11,155,689 11,411,024  
Less: Allowance for doubtful accounts 70,000 70,000  
Receivables, net 11,085,689 11,341,024  
Inventories:      
Raw materials 1,781,397 2,123,313  
Finished goods 3,460,800 3,536,326  
Inventories, net 5,242,197 5,659,639  
Prepaid expenses 1,350,201 1,277,861  
Accrued income taxes 476,154 0  
Deferred income taxes 1,139,433 1,395,504  
Total current assets 20,453,123 20,834,658  
PROPERTY, PLANT AND EQUIPMENT      
Land 2,769,499 2,769,499  
Buildings 18,787,967 18,804,228  
Machinery and equipment 67,543,226 66,295,760  
Transportation equipment 8,268,311 7,304,711  
Property, plant and equipment, gross 97,369,003 95,174,198  
Less: Accumulated depreciation 72,880,525 69,502,854  
Property, plant and equipment, net 24,488,478 25,671,344  
OTHER ASSETS      
Cash surrender value of life insurance 630,259 602,353  
Other 973,195 1,207,743  
Total other assets 1,603,454 1,810,096  
TOTAL 46,545,055 48,316,098  
CURRENT LIABILITIES      
Checks outstanding in excess of bank balances 1,068,745 1,971,076  
Accounts payable 4,049,333 3,719,102  
Current portion of long-term debt 799,204 369,979  
Line of credit outstanding 2,823,477 2,528,511  
Accrued income tax   378,659  
Other accrued expenses 5,021,286 5,953,171  
Salary continuation plan 106,148 212,970  
Total current liabilities 13,868,193 15,133,468  
LONG-TERM LIABILITIES      
Note payable-bank, non-current 6,213,513 4,944,233  
Salary continuation plan 921,882 920,184  
Deferred income taxes 3,856,793 3,805,221  
Total long-term liabilities 10,992,188 9,669,638  
STOCKHOLDERS' EQUITY      
Common stock - $.66 2/3 par value: Authorized 35,000,000 shares; issued 13,828,793 shares 9,219,195 9,219,195  
Additional paid-in capital 6,552,973 6,497,954  
Retained earnings 19,049,500 18,728,462  
Treasury shares -at cost (2,537,036 shares in 2015, 2,096,161 shares in 2014) (13,136,994) (10,932,619)  
Total stockholders' equity 21,684,674 23,512,992 $ 24,057,744
TOTAL $ 46,545,055 $ 48,316,098