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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 26, 2022
Mar. 27, 2021
OPERATING ACTIVITIES:    
Net Income $ 9,852,500 $ 9,311,100
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 102,500 113,800
Provisions for credit losses (8,900) (48,700)
Compensation expense related to stock options 421,600 385,200
Deferred income taxes (113,200) (439,900)
Deferred initial direct costs   (1,500)
Amortization of deferred initial direct costs   10,500
Operating lease right of use asset amortization 60,300 54,200
Tax benefits on exercised stock options 95,300 47,100
Change in operating assets and liabilities:    
Receivables (369,900) (515,000)
Principal collections on lease receivables 530,500 2,268,700
Income tax receivable/payable 2,946,500 3,333,300
Inventories (167,100) (3,600)
Prepaid expenses 23,500 155,300
Other assets (10,400) (2,600)
Accounts payable (203,000) (370,300)
Accrued and other liabilities 390,500 (532,300)
Rents received in advance and security deposits (159,700) (95,400)
Deferred revenue (43,100) (84,900)
Net cash provided by operating activities 13,347,900 13,585,000
INVESTING ACTIVITIES:    
Purchase of property and equipment (21,500) (34,300)
Purchase of equipment for lease contracts   (65,500)
Net cash used for investing activities (21,500) (99,800)
FINANCING ACTIVITIES:    
Proceeds from borrowings on line of credit 15,600,000  
Payments on line of credit (2,000,000)  
Payments on notes payable (1,062,500) (1,062,500)
Repurchases of common stock (36,591,400) (10,455,200)
Proceeds from exercises of stock options 1,258,300 268,800
Dividends paid (1,625,300) (935,400)
Net cash used for financing activities (24,420,900) (12,184,300)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (11,094,500) 1,300,900
Cash, cash equivalents and restricted cash, beginning of period 11,437,000 6,684,000
Cash, cash equivalents and restricted cash, end of period $ 342,500 $ 7,984,900