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Investment in Leasing Operations: (Tables)

9 Months Ended

Sep. 25, 2021

Investment in Leasing Operations:

Schedule of investment in leasing operations


		September 25, 2021			December 26, 2020
Direct financing and sales-type leases:
Minimum lease payments receivable		$	5,111,300		$	12,536,300
Estimated unguaranteed residual value of equipment			1,643,300			2,950,100
Unearned lease income, net of initial direct costs deferred			(611,100)			(1,439,500)
Security deposits			(1,494,500)			(2,169,000)
Equipment installed on leases not yet commenced			431,800			1,634,400
Total investment in direct financing and sales-type leases			5,080,800			13,512,300
Allowance for credit losses			(102,900)			(270,200)
Net investment in direct financing and sales-type leases			4,977,900			13,242,100
Operating leases:
Operating lease assets			469,800			599,100
Less accumulated depreciation and amortization			(406,100)			(580,100)
Net investment in operating leases			63,700			19,000
Total net investment in leasing operations		$	5,041,600		$	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		$	1,442,000		$	278,200
2022			3,538,900			321,600
2023			126,900			11,200
2024			3,500			100
		$	5,111,300		$	611,100

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


		September 25, 2021			September 26, 2020
Balance at beginning of period		$	270,200		$	580,600
Provisions charged to expense			(167,300)			164,300
Recoveries			—			(12,400)
Deductions for amounts written-off			—			(148,900)
Balance at end of period		$	102,900		$	583,600

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


		September 25, 2021						December 26, 2020
		Investment			Allowance for			Investment			Allowance for
		In Leases			Credit Losses			In Leases			Credit Losses
Collectively evaluated for loss potential		$	5,080,800		$	102,900		$	13,512,300		$	270,200
Individually evaluated for loss potential			—			—			—			—
Total		$	5,080,800		$	102,900		$	13,512,300		$	270,200

Schedule of information regarding accruing and non-accrual leases


		September 25, 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		$	5,080,800		$	—		$	—		$	—		$	5,080,800


		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			Nine Months Ended			Nine Months Ended
		September 25, 2021			September 26, 2020			September 25, 2021			September 26, 2020
Interest income on direct financing and sales-type leases		$	362,200		$	839,600		$	1,464,700		$	2,947,900
Selling profit (loss) at commencement of sales-type leases			164,300			267,700			1,594,300			1,453,600
Operating lease income			436,700			668,600			1,397,500			1,758,500
Income on sales of equipment under lease			988,500			913,400			3,214,000			5,078,300
Other			314,500			6,500			681,300			802,500
Leasing income		$	2,266,200		$	2,695,800		$	8,351,800		$	12,040,800