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Recent Accounting Pronouncements: (Tables)

9 Months Ended

Sep. 29, 2018

Accounting Standards Update 2014-09

Recent Accounting Pronouncements:

Schedule of previously reported amounts as restated


Condensed Consolidated Statement of Operations:		Three Months Ended September 30, 2017									Nine Months Ended September 30, 2017
		As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
Revenue:
Franchise fees		$	317,800		$	25,100		$	342,900		$	1,262,500		$	(82,200)		$	1,180,300
Other			244,500			137,900			382,400			1,033,100			112,500			1,145,600
Selling, general and administrative expenses			6,208,900			(24,500)			6,184,400			19,179,400			(14,100)			19,165,300
Provision for income taxes			(3,547,100)			(45,900)			(3,593,000)			(9,683,600)			(10,900)			(9,694,500)
Net income			5,719,000			141,600			5,860,600			16,908,600			33,500			16,942,100
Earnings per share - basic		$	1.42		$	0.04		$	1.46		$	4.09		$	0.01		$	4.10
Earnings per share - diluted		$	1.33		$	0.03		$	1.36		$	3.83		$	0.01		$	3.84


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		$	(21,300)		$	1,714,900
Deferred revenue-Long term			1,465,500			7,129,800			8,595,300
Deferred income taxes			1,956,500			(1,636,000)			320,500
Retained earnings (accumulated deficit)			(32,154,400)			(5,035,300)			(37,189,700)