Investment in Leasing Operations: (Tables)

12 Months Ended

Dec. 29, 2018

Schedule of investment in leasing operations


	December 29, 2018		December 30, 2017
Direct financing and sales-type leases:
Minimum lease payments receivable	$	40,822,400	$	36,119,700
Estimated residual value of equipment		4,741,200		4,762,700
Unearned lease income net of initial direct costs deferred		(6,739,900)		(5,371,900)
Security deposits		(4,118,300)		(4,526,000)
Equipment installed on leases not yet commenced		5,094,800		10,989,700
Total investment in direct financing and sales-type leases		39,800,200		41,974,200
Allowance for credit losses		(861,200)		(711,200)
Net investment in direct financing and sales-type leases		38,939,000		41,263,000
Operating leases:
Operating lease assets		777,000		1,045,400
Less accumulated depreciation and amortization		(713,000)		(1,030,800)
Net investment in operating leases		64,000		14,600
Total net investment in leasing operations	$	39,003,000	$	41,277,600

Schedule of future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred

Future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred, is as follows as of December 29, 2018:


	Direct Financing and Sales-Type Leases				Operating Leases
	Minimum Lease		Income		Minimum Lease
Fiscal Year	Payments Receivable		Amortization		Payments Receivable
2019	$	25,060,400	$	5,350,300	$	76,900
2020		12,094,200		1,244,800		—
2021		3,641,700		142,900		—
2022		13,700		1,300		—
2023		8,000		500		—
Thereafter		4,400		100		—
	$	40,822,400	$	6,739,900	$	76,900

Schedule of activity in the allowance for credit losses for leasing operations


	December 29, 2018		December 30, 2017		December 31, 2016
Balance at beginning of period	$	711,200	$	896,000	$	859,100
Provisions charged to expense		38,600		9,000		18,500
Recoveries		213,500		8,600		47,700
Deductions for amounts written-off		(102,100)		(202,400)		(29,300)
Balance at end of period	$	861,200	$	711,200	$	896,000

Schedule of investment in direct financing and sales-type leases (investment in leases) and allowance for credit losses by loss evaluation methodology


	December 29, 2018				December 30, 2017
	Investment		Allowance for		Investment		Allowance for
	In Leases		Credit Losses		In Leases		Credit Losses
Collectively evaluated for loss potential	$	39,800,200		861,200	$	41,974,200	$	711,200
Individually evaluated for loss potential		—		—		—		—
Total	$	39,800,200	$	861,200	$	41,974,200	$	711,200

Schedule of information regarding accruing and non-accrual leases


	December 29, 2018
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	38,395,000	$	—	$	—	$	70,000	$	38,465,000
Small-Ticket		1,335,200		—		—		—		1,335,200
Total Investment in Leases	$	39,730,200	$	—	$	—	$	70,000	$	39,800,200


	December 30, 2017
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	40,657,500	$	133,700	$	—	$	—	$	40,791,200
Small-Ticket		1,183,000		—		—		—		1,183,000
Total Investment in Leases	$	41,840,500	$	133,700	$	—	$	—	$	41,974,200