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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jul. 01, 2023
Jun. 25, 2022
OPERATING ACTIVITIES:    
Net Income $ 19,311,500 $ 18,879,700
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 385,100 219,400
Provisions for credit losses (5,300) (24,600)
Compensation expense related to stock options 942,000 771,400
Deferred income taxes 148,400 (185,400)
Operating lease right of use asset amortization 135,600 122,200
Tax benefits on exercised stock options 832,300 348,000
Change in operating assets and liabilities:    
Receivables (153,900) (218,400)
Principal collections on lease receivables 499,800 1,636,100
Income tax receivable/payable (796,100) (549,500)
Inventories 323,700 (278,200)
Prepaid expenses 490,700 147,600
Other assets (31,600) (2,200)
Accounts payable (483,600) (209,700)
Accrued and other liabilities 1,390,000 2,213,500
Rents received in advance and security deposits (234,200) (472,700)
Deferred revenue 397,900 (28,200)
Net cash provided by operating activities 23,152,300 22,369,000
INVESTING ACTIVITIES:    
Purchase of property and equipment (96,900) (43,000)
Reacquired franchise rights   (3,540,000)
Net cash used for investing activities (96,900) (3,583,000)
FINANCING ACTIVITIES:    
Proceeds from borrowings on line of credit/term loan   33,700,000
Payments on line of credit/term loan   (3,700,000)
Payments on notes payable (2,125,000) (2,125,000)
Repurchases of common stock   (47,847,500)
Proceeds from exercises of stock options 2,974,900 2,553,700
Dividends paid (5,209,400) (4,052,600)
Net cash used for financing activities (4,359,500) (21,471,400)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 18,695,900 (2,685,400)
Cash, cash equivalents and restricted cash, beginning of period 13,680,600 11,437,000
Cash, cash equivalents and restricted cash, end of period $ 32,376,500 $ 8,751,600