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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 25, 2021
Sep. 26, 2020
OPERATING ACTIVITIES:    
Net Income $ 28,330,900 $ 21,731,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 328,800 366,700
Provisions for credit losses (167,300) 164,300
Compensation expense related to stock options 1,074,200 929,900
Deferred income taxes (1,365,500) (1,251,000)
Loss from disposal of property and equipment   200
Deferred initial direct costs (2,100) (18,300)
Amortization of deferred initial direct costs 18,800 89,400
Operating lease right of use asset amortization 167,000 293,400
Tax benefits on exercised stock options 249,200 602,400
Change in operating assets and liabilities:    
Receivables 187,000 (278,100)
Principal collections on lease receivables 7,452,200 11,418,500
Income tax receivable/payable (216,200) 368,000
Inventories (302,000) 900
Prepaid expenses 36,500 (190,700)
Other assets 19,000 34,200
Accounts payable 219,000 257,700
Accrued and other liabilities (94,100) (864,100)
Rents received in advance and security deposits (674,500) (1,252,000)
Deferred revenue (214,800) (630,300)
Net cash provided by operating activities 35,046,100 31,772,100
INVESTING ACTIVITIES:    
Purchase of property and equipment (51,800) (33,400)
Purchase of equipment for lease contracts (78,200) (3,128,200)
Net cash used for investing activities (130,000) (3,161,600)
FINANCING ACTIVITIES:    
Proceeds from borrowings on line of credit   46,600,000
Payments on line of credit   (46,600,000)
Proceeds from borrowings on notes payable 30,000,000  
Payments on notes payable (3,187,500) (2,687,500)
Repurchases of common stock (27,892,900) (48,987,500)
Proceeds from exercises of stock options 1,299,300 7,074,100
Dividends paid (4,234,900) (2,029,500)
Proceeds from discounted lease rentals   1,157,000
Net cash used for financing activities (4,016,000) (45,473,400)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 30,900,100 (16,862,900)
Cash, cash equivalents and restricted cash, beginning of period 6,684,000 25,180,300
Cash, cash equivalents and restricted cash, end of period $ 37,584,100 $ 8,317,400