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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
OPERATING ACTIVITIES:    
Net Income $ 14,574,100 $ 14,103,400
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 166,000 155,100
Provision for credit losses 79,400 204,000
Compensation expense related to stock options 1,015,600 1,006,900
Deferred income taxes 39,700 39,700
Deferred initial direct costs (48,000) (1,083,100)
Amortization of deferred initial direct costs 369,000 562,200
Operating lease right of use asset amortization 207,300  
Tax benefits on exercised stock options 305,800 125,700
Change in operating assets and liabilities:    
Receivables 42,800 294,000
Principal collections on lease receivables 9,543,600  
Income tax receivable/payable (1,348,600) 2,273,300
Inventories (6,800) (53,000)
Prepaid expenses 48,600 135,800
Other assets (26,600) (46,400)
Accounts payable (184,400) (570,100)
Accrued and other liabilities (761,700) 1,674,200
Rents received in advance and security deposits 56,100 (460,100)
Deferred revenue (357,900) 31,500
Net cash provided by operating activities 23,714,000 18,393,100
INVESTING ACTIVITIES:    
Purchase of property and equipment (153,000) (298,700)
Purchase of equipment for lease contracts (5,678,600) (12,895,200)
Principal collections on lease receivables   10,838,200
Net cash used for investing activities (5,831,600) (2,355,700)
FINANCING ACTIVITIES:    
Proceeds from borrowings on line of credit 18,800,000 4,000,000
Payments on line of credit (12,800,000) (21,000,000)
Payments on notes payable (1,625,000) (1,625,000)
Repurchases of common stock (24,028,100)  
Proceeds from exercises of stock options 945,400 846,500
Dividends paid (1,528,900) (1,001,100)
Proceeds from discounted lease rentals 944,400 2,916,900
Net cash used for financing activities (19,292,200) (15,862,700)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (1,409,800) 174,700
Cash, cash equivalents and restricted cash, beginning of period 2,576,000 1,163,200
Cash, cash equivalents and restricted cash, end of period $ 1,166,200 $ 1,337,900