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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
OPERATING ACTIVITIES:      
Net Income $ 32,149,300 $ 30,125,500 $ 24,580,500
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 400,100 314,100 355,400
Provision for credit losses (78,300) 38,600 9,000
Compensation expense related to stock options 1,666,400 1,976,100 1,956,600
Deferred income taxes (1,815,300) 827,800 (1,370,300)
Gain on sale of marketable securities     (1,400)
Loss from disposal of property and equipment 1,900    
Deferred initial direct costs (92,600) (1,367,800) (416,300)
Amortization of deferred initial direct costs 550,000 1,048,500 447,700
Operating lease right of use asset amortization 345,400    
Tax benefits on exercised stock options 1,218,900 403,800 882,300
Change in operating assets and liabilities:      
Receivables (116,400) 242,900 (316,800)
Principal collections on lease receivables 19,421,400    
Income tax receivable/payable (1,151,300) 1,192,500 (1,371,300)
Inventories 21,600 (10,500) (9,600)
Prepaid expenses (66,500)   242,400
Other assets (9,900) (132,200) (15,500)
Accounts payable (336,800) (721,200) 381,000
Accrued and other liabilities (661,600) 1,490,000 (174,400)
Rents received in advance and security deposits (197,300) (358,200) 126,700
Deferred revenue (601,800) (132,900) (98,300)
Net cash provided by operating activities 50,647,200 34,937,000 25,207,700
INVESTING ACTIVITIES:      
Proceeds from sale of marketable securities     217,200
Purchase of property and equipment (169,400) (693,500) (72,600)
Purchase of equipment for lease contracts (9,009,000) (23,104,800) (25,403,200)
Principal collections on lease receivables   24,252,200 25,343,800
Net cash provided by (used for) investing activities (9,178,400) 453,900 85,200
FINANCING ACTIVITIES:      
Proceeds from borrowings on line of credit 18,800,000 7,300,000 51,900,000
Payments on line of credit (18,800,000) (42,700,000) (39,900,000)
Proceeds from borrowings on notes payable     12,500,000
Payments on notes payable (3,250,000) (3,250,000) (2,312,500)
Repurchases of common stock (24,028,100) (1,846,400) (49,902,500)
Proceeds from exercises of stock options 10,918,300 2,819,700 2,309,700
Dividends paid (3,449,100) (2,169,900) (1,765,000)
Proceeds from discounted lease rentals 944,400 5,868,500 1,747,700
Net cash used for financing activities (18,864,500) (33,978,100) (25,422,600)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 22,604,300 1,412,800 (129,700)
Cash, cash equivalents and restricted cash, beginning of period 2,576,000 1,163,200 1,292,900
Cash, cash equivalents and restricted cash, end of period $ 25,180,300 $ 2,576,000 $ 1,163,200