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Investment in Leasing Operations: (Tables)

6 Months Ended

Jun. 26, 2021

Investment in Leasing Operations:

Schedule of investment in leasing operations


		June 26, 2021			December 26, 2020
Direct financing and sales-type leases:
Minimum lease payments receivable		$	8,163,200		$	12,536,300
Estimated unguaranteed residual value of equipment			1,983,300			2,950,100
Unearned lease income, net of initial direct costs deferred			(825,800)			(1,439,500)
Security deposits			(1,851,300)			(2,169,000)
Equipment installed on leases not yet commenced			431,800			1,634,400
Total investment in direct financing and sales-type leases			7,901,200			13,512,300
Allowance for credit losses			(158,800)			(270,200)
Net investment in direct financing and sales-type leases			7,742,400			13,242,100
Operating leases:
Operating lease assets			517,300			599,100
Less accumulated depreciation and amortization			(475,000)			(580,100)
Net investment in operating leases			42,300			19,000
Total net investment in leasing operations		$	7,784,700		$	13,261,100

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


		Direct Financing and Sales-Type Leases
		Minimum Lease			Income
Fiscal Year		Payments Receivable			Amortization
2021		$	4,651,400		$	558,500
2022			3,365,300			257,100
2023			143,100			10,100
2024			3,400			100
		$	8,163,200		$	825,800

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


		June 26, 2021			June 27, 2020
Balance at beginning of period		$	270,200		$	580,600
Provisions charged to expense			(111,400)			503,900
Recoveries			—			(11,800)
Deductions for amounts written-off			—			(148,900)
Balance at end of period		$	158,800		$	923,800

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


		June 26, 2021						December 26, 2020
		Investment			Allowance for			Investment			Allowance for
		In Leases			Credit Losses			In Leases			Credit Losses
Collectively evaluated for loss potential		$	7,901,200		$	158,800		$	13,512,300		$	270,200
Individually evaluated for loss potential			—			—			—			—
Total		$	7,901,200		$	158,800		$	13,512,300		$	270,200

Schedule of information regarding accruing and non-accrual leases


		June 26, 2021
		0-60 Days			61-90 Days			Over 90 Days
		Delinquent			Delinquent			Delinquent and
		and Accruing			and Accruing			Accruing			Non-Accrual			Total

Total investment in leases		$	7,901,200		$	—		$	—		$	—		$	7,901,200


		December 26, 2020
		0-60 Days			61-90 Days			Over 90 Days
		Delinquent			Delinquent			Delinquent and
		and Accruing			and Accruing			Accruing			Non-Accrual			Total

Total investment in leases		$	13,512,300		$	—		$	—		$	—		$	13,512,300

Schedule of components of leasing income


		Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended
		June 26, 2021			June 27, 2020			June 26, 2021			June 27, 2020
Interest income on direct financing and sales-type leases		$	482,800		$	979,700		$	1,102,500		$	2,108,300
Selling profit (loss) at commencement of sales-type leases			356,300			872,700			1,430,000			1,185,900
Operating lease income			476,500			654,500			960,800			1,089,900
Income on sales of equipment under lease			1,479,900			903,600			2,225,500			4,164,900
Other			53,100			63,300			366,800			796,000
Leasing income		$	2,848,600		$	3,473,800		$	6,085,600		$	9,345,000