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Significant Accounting Policies: (Tables)
12 Months Ended
Dec. 29, 2018
Schedule of shares outstanding used in the calculation of basic and diluted earnings per share

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

    

December 29, 2018

    

December 30, 2017

    

December 31, 2016

 

Denominator for basic EPS — weighted average common shares

 

3,874,757

 

4,056,049

 

4,122,854

 

Dilutive shares associated with option plans

 

275,022

 

283,895

 

207,636

 

Denominator for diluted EPS — weighted average common shares and dilutive potential common shares

 

4,149,779

 

4,339,944

 

4,330,490

 

Options excluded from EPS calculation — anti-dilutive

 

21,933

 

24,516

 

31,590

 

 

Accounting Standards Update 2014-09  
Schedule of previously reported amounts as restated

Consolidated Statement of Operations:

 

Year Ended December 30, 2017

 

Year Ended December 31, 2016

 

 

As Previously

 

 

 

 

 

 

 

As Previously

 

 

 

 

 

 

 

    

Reported

    

Adjustments

    

As Adjusted

    

Reported

    

Adjustments

    

As Adjusted

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Franchise fees

 

$

1,529,700

 

$

11,400

 

$

1,541,100

 

$

1,624,800

 

$

(60,400)

 

$

1,564,400

Selling, general and administrative expenses

 

 

25,250,600

 

 

(9,000)

 

 

25,241,600

 

 

23,835,600

 

 

31,300

 

 

23,866,900

Provision for income taxes

 

 

(11,866,000)

 

 

(5,000)

 

 

(11,871,000)

 

 

(13,728,400)

 

 

22,500

 

 

(13,705,900)

Net income

 

 

24,565,100

 

 

15,400

 

 

24,580,500

 

 

22,217,600

 

 

(69,200)

 

 

22,148,400

Earnings per share - basic

 

$

6.06

 

$

0.00

 

$

6.06

 

$

5.39

 

$

(0.02)

 

$

5.37

Earnings per share - diluted

 

$

5.66

 

$

0.00

 

$

5.66

 

$

5.13

 

$

(0.02)

 

$

5.11

 

 

 

 

 

 

 

 

 

 

 

Consolidated Balance Sheet:

 

December 30, 2017

 

 

As Previously

 

 

 

 

 

 

 

    

Reported

    

Adjustments

    

As Adjusted

Assets

 

 

 

 

 

 

 

 

 

Prepaid expenses

 

$

814,800

 

$

86,800

 

$

901,600

Other assets

 

 

 —

 

 

350,400

 

 

350,400

 

 

 

 

 

 

 

 

 

 

Liabilities and Shareholders' Equity (Deficit):

 

 

 

 

 

 

 

 

 

Deferred revenue-Current

 

$

1,736,200

 

$

(21,300)

 

$

1,714,900

Deferred revenue-Long term

 

 

1,465,500

 

 

7,129,800

 

 

8,595,300

Deferred income taxes

 

 

1,956,500

 

 

(1,636,000)

 

 

320,500

Retained earnings (accumulated deficit)

 

 

(32,154,400)

 

 

(5,035,300)

 

 

(37,189,700)