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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 26, 2021
Jun. 27, 2020
OPERATING ACTIVITIES:    
Net Income $ 18,248,400 $ 12,372,200
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 223,200 246,000
Provisions for credit losses (111,400) 503,900
Compensation expense related to stock options 698,100 538,000
Deferred income taxes (907,400) (839,900)
Loss from disposal of property and equipment   200
Deferred initial direct costs (2,100) (14,500)
Amortization of deferred initial direct costs 16,400 66,400
Operating lease right of use asset amortization 109,900 242,100
Tax benefits on exercised stock options 248,900 477,900
Change in operating assets and liabilities:    
Receivables 405,600 (224,300)
Principal collections on lease receivables 5,332,200 7,995,000
Income tax receivable/payable (722,900) 3,300,800
Inventories (222,800) 2,200
Prepaid expenses 308,000 1,200
Other assets 17,800 17,200
Accounts payable (311,600) 816,600
Accrued and other liabilities 232,100 (701,600)
Rents received in advance and security deposits (317,700) (1,145,100)
Deferred revenue (120,300) (412,100)
Net cash provided by operating activities 23,124,400 23,242,200
INVESTING ACTIVITIES:    
Purchase of property and equipment (48,600) (33,700)
Purchase of equipment for lease contracts (78,200) (2,658,200)
Net cash used for investing activities (126,800) (2,691,900)
FINANCING ACTIVITIES:    
Proceeds from borrowings on line of credit   45,700,000
Payments on line of credit   (45,700,000)
Payments on notes payable (2,125,000) (1,625,000)
Repurchases of common stock (18,918,200) (48,987,500)
Proceeds from exercises of stock options 1,210,300 6,159,500
Dividends paid (2,600,400) (1,096,700)
Proceeds from discounted lease rentals   1,157,000
Net cash used for financing activities (22,433,300) (44,392,700)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 564,300 (23,842,400)
Cash, cash equivalents and restricted cash, beginning of period 6,684,000 25,180,300
Cash, cash equivalents and restricted cash, end of period $ 7,248,300 $ 1,337,900