Investment in Leasing Operations: (Tables)

3 Months Ended

Mar. 30, 2019

Investment in Leasing Operations:

Schedule of investment in leasing operations

	March 30, 2019		December 29, 2018
Direct financing and sales-type leases:
Minimum lease payments receivable	$	35,791,700	$	40,822,400
Estimated unguaranteed residual value of equipment		4,431,300		4,741,200
Unearned lease income, net of initial direct costs deferred		(5,658,100)		(6,739,900)
Security deposits		(4,125,600)		(4,118,300)
Equipment installed on leases not yet commenced		5,283,100		5,094,800
Total investment in direct financing and sales-type leases		35,722,400		39,800,200
Allowance for credit losses		(651,400)		(861,200)
Net investment in direct financing and sales-type leases		35,071,000		38,939,000
Operating leases:
Operating lease assets		567,300		777,000
Less accumulated depreciation and amortization		(530,800)		(713,000)
Net investment in operating leases		36,500		64,000
Total net investment in leasing operations	$	35,107,500	$	39,003,000

Schedule of future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred

	Direct Financing and Sales-Type Leases				Operating Leases
	Minimum Lease		Income		Minimum Lease
Fiscal Year	Payments Receivable		Amortization		Payments Receivable
2019	$	18,871,400	$	3,994,900	$	44,000
2020		12,861,900		1,475,300		—
2021		4,006,000		185,900		—
2022		40,000		1,400		—
2023		8,000		500		—
Thereafter		4,400		100		—
	$	35,791,700	$	5,658,100	$	44,000

Schedule of activity in the allowance for credit losses for leasing operations

	March 30, 2019		March 31, 2018
Balance at beginning of period	$	861,200	$	711,200
Provisions charged to expense		10,100		95,000
Recoveries		4,200		(25,600)
Deductions for amounts written-off		(224,100)		—
Balance at end of period	$	651,400	$	780,600

Schedule of investment in direct financing and sales-type leases (investment in leases) and allowance for credit losses by loss evaluation methodology

	March 30, 2019				December 29, 2018
	Investment		Allowance for		Investment		Allowance for
	In Leases		Credit Losses		In Leases		Credit Losses
Collectively evaluated for loss potential	$	35,722,400		651,400	$	39,800,200	$	861,200
Individually evaluated for loss potential		—		—		—		—
Total	$	35,722,400	$	651,400	$	39,800,200	$	861,200

Schedule of information regarding accruing and non-accrual leases

	March 30, 2019
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	34,506,800	$	—	$	—	$	—	$	34,506,800
Small-Ticket		1,215,600		—		—		—		1,215,600
Total Investment in Leases	$	35,722,400	$	—	$	—	$	—	$	35,722,400

	December 29, 2018
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	38,395,000	$	—	$	—	$	70,000	$	38,465,000
Small-Ticket		1,335,200		—		—		—		1,335,200
Total Investment in Leases	$	39,730,200	$	—	$	—	$	70,000	$	39,800,200

Schedule of components of leasing income

	Three Months Ended
	March 30, 2019
Interest income on direct financing and sales-type leases	$	2,182,500
Selling profit (loss) at commencement of sales-type leases		873,500
Operating lease income		638,300
Income on sales of equipment under lease		1,225,600
Other		235,400
Leasing income	$	5,155,300