Investment in Leasing Operations: (Tables)

6 Months Ended

Jun. 29, 2019

Investment in Leasing Operations:

Schedule of investment in leasing operations

	June 29, 2019		December 29, 2018
Direct financing and sales-type leases:
Minimum lease payments receivable	$	32,130,800	$	40,822,400
Estimated unguaranteed residual value of equipment		4,473,600		4,741,200
Unearned lease income, net of initial direct costs deferred		(5,040,200)		(6,739,900)
Security deposits		(4,108,800)		(4,118,300)
Equipment installed on leases not yet commenced		6,149,200		5,094,800
Total investment in direct financing and sales-type leases		33,604,600		39,800,200
Allowance for credit losses		(727,100)		(861,200)
Net investment in direct financing and sales-type leases		32,877,500		38,939,000
Operating leases:
Operating lease assets		685,800		777,000
Less accumulated depreciation and amortization		(580,400)		(713,000)
Net investment in operating leases		105,400		64,000
Total net investment in leasing operations	$	32,982,900	$	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	$	12,972,900	$	2,752,200	$	11,000
2020		14,003,900		1,963,200		—
2021		4,843,500		316,200		—
2022		298,000		8,000		—
2023		8,100		500		—
Thereafter		4,400		100		—
	$	32,130,800	$	5,040,200	$	11,000

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

	June 29, 2019		June 30, 2018
Balance at beginning of period	$	861,200	$	711,200
Provisions charged to expense		79,400		204,000
Recoveries		10,600		(60,900)
Deductions for amounts written-off		(224,100)		(98,400)
Balance at end of period	$	727,100	$	755,900

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

	June 29, 2019				December 29, 2018
	Investment		Allowance for		Investment		Allowance for
	In Leases		Credit Losses		In Leases		Credit Losses
Collectively evaluated for loss potential	$	33,604,600		727,100	$	39,800,200	$	861,200
Individually evaluated for loss potential		—		—		—		—
Total	$	33,604,600	$	727,100	$	39,800,200	$	861,200

Schedule of information regarding accruing and non-accrual leases

	June 29, 2019
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	32,285,500	$	—	$	—	$	—	$	32,285,500
Small-Ticket		1,319,100		—		—		—		1,319,100
Total Investment in Leases	$	33,604,600	$	—	$	—	$	—	$	33,604,600

	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		Six Months Ended
	June 29, 2019		June 29, 2019
Interest income on direct financing and sales-type leases	$	2,028,300	$	4,210,800
Selling profit (loss) at commencement of sales-type leases		—		873,500
Operating lease income		567,800		1,206,100
Income on sales of equipment under lease		546,300		1,771,900
Other		60,600		296,000
Leasing income	$	3,203,000	$	8,358,300