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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 25, 2022
Jun. 26, 2021
OPERATING ACTIVITIES:    
Net Income $ 18,879,700 $ 18,248,400
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 219,400 223,200
Provisions for credit losses (24,600) (111,400)
Compensation expense related to stock options 771,400 698,100
Deferred income taxes (185,400) (907,400)
Deferred initial direct costs   (2,100)
Amortization of deferred initial direct costs   16,400
Operating lease right of use asset amortization 122,200 109,900
Tax benefits on exercised stock options 348,000 248,900
Change in operating assets and liabilities:    
Receivables (218,400) 405,600
Principal collections on lease receivables 1,636,100 5,332,200
Income tax receivable/payable (549,500) (722,900)
Inventories (278,200) (222,800)
Prepaid expenses 147,600 308,000
Other assets (2,200) 17,800
Accounts payable (209,700) (311,600)
Accrued and other liabilities 2,213,500 232,100
Rents received in advance and security deposits (472,700) (317,700)
Deferred revenue (28,200) (120,300)
Net cash provided by operating activities 22,369,000 23,124,400
INVESTING ACTIVITIES:    
Purchase of property and equipment (43,000) (48,600)
Reacquired franchise rights (3,540,000)  
Purchase of equipment for lease contracts   (78,200)
Net cash used for investing activities (3,583,000) (126,800)
FINANCING ACTIVITIES:    
Proceeds from borrowings on line of credit 33,700,000  
Payments on line of credit (3,700,000)  
Payments on notes payable (2,125,000) (2,125,000)
Repurchases of common stock (47,847,500) (18,918,200)
Proceeds from exercises of stock options 2,553,700 1,210,300
Dividends paid (4,052,600) (2,600,400)
Net cash used for financing activities (21,471,400) (22,433,300)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (2,685,400) 564,300
Cash, cash equivalents and restricted cash, beginning of period 11,437,000 6,684,000
Cash, cash equivalents and restricted cash, end of period $ 8,751,600 $ 7,248,300