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ACCOUNTING STANDARDS
6 Months Ended
Jul. 01, 2023
Accounting Policies [Abstract]  
ACCOUNTING STANDARDS

2. ACCOUNTING STANDARDS

 

ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments became effective for smaller reporting companies for fiscal years beginning after December 15, 2022. The amendments in ASU 2016-13 are intended to provide more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The Company adopted this standard on January 1, 2023 and there was not a material impact.