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Recent Accounting Pronouncements: (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Standards Update 2014-09

Recent Accounting Pronouncements:

Schedule of previously reported amounts as restated


Condensed Consolidated Statement of Operations:		Three Months Ended July 1, 2017									Six Months Ended July 1, 2017
		As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
Revenue:
Franchise fees		$	675,400		$	(206,600)		$	468,800		$	944,700		$	(107,300)		$	837,400
Other			496,000			(113,200)			382,800			788,600			(25,400)			763,200
Selling, general and administrative expenses			6,467,100			1,300			6,468,400			12,970,500			10,400			12,980,900
Provision for income taxes			(2,914,800)			78,600			(2,836,200)			(6,136,500)			35,000			(6,101,500)
Net income			5,773,200			(242,500)			5,530,700			11,189,600			(108,100)			11,081,500
Earnings per share - basic		$	1.37		$	(0.05)		$	1.32		$	2.67		$	(0.02)		$	2.65
Earnings per share - diluted		$	1.29		$	(0.06)		$	1.23		$	2.50		$	(0.02)		$	2.48


Consolidated Balance Sheet:			December 30, 2017
			As Previously Reported			Adjustments			As Restated
ASSETS
Prepaid expenses		$	814,800		$	86,800		$	901,600
Other assets			—			350,400			350,400

LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT):
Deferred revenue-Current		$	1,736,200		$	1,276,500		$	3,012,700
Deferred revenue-Long term			1,465,500			5,832,000			7,297,500
Deferred income taxes			1,956,500			(1,636,000)			320,500
Retained earnings (accumulated deficit)			(32,154,400)			(5,035,300)			(37,189,700)