Investment in Leasing Operations: (Tables)

9 Months Ended

Sep. 26, 2020

Investment in Leasing Operations:

Schedule of investment in leasing operations

	September 26, 2020		December 28, 2019
Direct financing and sales-type leases:
Minimum lease payments receivable	$	16,854,200	$	26,001,200
Estimated unguaranteed residual value of equipment		2,992,600		4,109,800
Unearned lease income, net of initial direct costs deferred		(1,823,600)		(4,039,400)
Security deposits		(2,637,800)		(3,852,000)
Equipment installed on leases not yet commenced		660,300		3,437,800
Total investment in direct financing and sales-type leases		16,045,700		25,657,400
Allowance for credit losses		(583,600)		(580,600)
Net investment in direct financing and sales-type leases		15,462,100		25,076,800
Operating leases:
Operating lease assets		707,100		820,700
Less accumulated depreciation and amortization		(564,200)		(591,900)
Net investment in operating leases		142,900		228,800
Total net investment in leasing operations	$	15,605,000	$	25,305,600

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
	Minimum Lease		Income
Fiscal Year	Payments Receivable		Amortization
2020	$	3,382,200	$	564,900
2021		10,571,100		1,099,900
2022		2,726,500		150,200
2023		145,700		6,200
2024		15,200		1,700
Thereafter		13,500		700
	$	16,854,200	$	1,823,600

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

	September 26, 2020		September 28, 2019
Balance at beginning of period	$	580,600	$	861,200
Provisions charged to expense		164,300		23,900
Recoveries		(12,400)		15,700
Deductions for amounts written-off		(148,900)		(224,000)
Balance at end of period	$	583,600	$	676,800

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

	September 26, 2020				December 28, 2019
	Investment		Allowance for		Investment		Allowance for
	In Leases		Credit Losses		In Leases		Credit Losses
Collectively evaluated for loss potential	$	16,045,700		583,600	$	25,657,400	$	580,600
Individually evaluated for loss potential		—		—		—		—
Total	$	16,045,700	$	583,600	$	25,657,400	$	580,600

Schedule of information regarding accruing and non-accrual leases

	September 26, 2020
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	15,051,900	$	—	$	—	$	—	$	15,051,900
Small-Ticket		993,800		—		—		—		993,800
Total Investment in Leases	$	16,045,700	$	—	$	—	$	—	$	16,045,700

	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

Schedule of components of leasing income

	Three Months Ended		Three Months Ended		Nine Months Ended		Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
Interest income on direct financing and sales-type leases	$	839,600	$	1,856,000	$	2,947,900	$	6,066,800
Selling profit (loss) at commencement of sales-type leases		267,700		1,098,100		1,453,600		1,971,600
Operating lease income		668,600		702,600		1,758,500		1,908,700
Income on sales of equipment under lease		913,400		496,600		5,078,300		2,268,500
Other		6,500		222,200		802,500		518,200
Leasing income	$	2,695,800	$	4,375,500	$	12,040,800	$	12,733,800