Investment in Leasing Operations: (Tables)

12 Months Ended

Dec. 28, 2019

Investment in Leasing Operations:

Schedule of investment in leasing operations

	December 28, 2019		December 29, 2018
Direct financing and sales-type leases:
Minimum lease payments receivable	$	26,001,200	$	40,822,400
Estimated unguaranteed residual value of equipment		4,109,800		4,741,200
Unearned lease income, net of initial direct costs deferred		(4,039,400)		(6,739,900)
Security deposits		(3,852,000)		(4,118,300)
Equipment installed on leases not yet commenced		3,437,800		5,094,800
Total investment in direct financing and sales-type leases		25,657,400		39,800,200
Allowance for credit losses		(580,600)		(861,200)
Net investment in direct financing and sales-type leases		25,076,800		38,939,000
Operating leases:
Operating lease assets		820,700		777,000
Less accumulated depreciation and amortization		(591,900)		(713,000)
Net investment in operating leases		228,800		64,000
Total net investment in leasing operations	$	25,305,600	$	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

Future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred, is as follows as of December 28, 2019:

	Direct Financing and Sales-Type Leases
	Minimum Lease		Income
Fiscal Year	Payments Receivable		Amortization
2020	$	16,855,200	$	3,193,700
2021		8,049,100		802,000
2022		1,084,400		43,100
2023		8,100		500
2024		4,400		100
Thereafter		—		—
	$	26,001,200	$	4,039,400

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

	December 28, 2019		December 29, 2018		December 30, 2017
Balance at beginning of period	$	861,200	$	711,200	$	896,000
Provisions charged to expense		(78,300)		38,600		9,000
Recoveries		21,900		213,500		8,600
Deductions for amounts written-off		(224,200)		(102,100)		(202,400)
Balance at end of period	$	580,600	$	861,200	$	711,200

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

	December 28, 2019				December 29, 2018
	Investment		Allowance for		Investment		Allowance for
	In Leases		Credit Losses		In Leases		Credit Losses
Collectively evaluated for loss potential	$	25,657,400		580,600	$	39,800,200	$	861,200
Individually evaluated for loss potential		—		—		—		—
Total	$	25,657,400	$	580,600	$	39,800,200	$	861,200

Schedule of information regarding accruing and non-accrual leases

	December 28, 2019
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	24,546,300	$	—	$	—	$	—	$	24,546,300
Small-Ticket		1,111,100		—		—		—		1,111,100
Total Investment in Leases	$	25,657,400	$	—	$	—	$	—	$	25,657,400

	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

	Year Ended
	December 28, 2019
Interest income on direct financing and sales-type leases	$	7,602,600
Selling profit (loss) at commencement of sales-type leases		2,470,300
Operating lease income		2,525,600
Income on sales of equipment under lease		2,855,400
Other		601,900
Leasing income	$	16,055,800