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Income Taxes (Tables) | 12 Months Ended
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Dec. 30, 2023
Income Taxes |
Deferred Income Tax (Assets) Liabilities |
|  | 2023 |  |  | 2022 |
Property, plant, and equipment |  | $ | 3,897,991 |  |  | $ | 3,568,209 |
Right of Use Asset |  |  | 4,192,368 |  |  |  | 2,786,486 |
Intangible assets |  |  | 1,674,225 |  |  |  | 3,374,192 |
Other |  |  | 369,358 |  |  |  | 876,731 |
Foreign Withholding Tax |  |  | - |  |  |  | 60,462 |
Total deferred income tax liabilities |  |  | 10,133,942 |  |  |  | 10,666,080 |
Other postretirement benefits |  |  | (139,050 | ) |  |  | (151,486 | )
Inventories |  |  | (1,587,374 | ) |  |  | (1,562,175 | )
Allowance for doubtful accounts |  |  | (133,988 | ) |  |  | (160,446 | )
Accrued compensation |  |  | (434,631 | ) |  |  | (498,530 | )
Lease Obligation |  |  | (4,192,368 | ) |  |  | (2,786,486 | )
Pensions |  |  | (4,819,568 | ) |  |  | (5,042,030 | )
Foreign Tax Credit |  |  | (1,110,534 | ) |  |  | (953,916 | )
Total deferred income tax assets |  |  | (12,417,513 | ) |  |  | (11,155,069 | )
Net deferred income tax (assets) liabilities |  | $ | (2,283,571 | ) |  | $ | (488,989 | )
Income Before Income Taxes |
|  | 2023 |  |  | 2022 |
|  | Continuing Operations |  |  | Discontinued Operations |  |  | Total Income Statement |  |  | Continuing Operations |  |  | Discontinued Operations |  |  | Total Income Statement |
Domestic |  | $ | 8,351,677 |  |  |  | - |  |  | $ | 8,351,677 |  |  | $ | 12,787,773 |  |  | $ | 1,666,312 |  |  | $ | 14,454,085 |
Foreign |  |  | 2,640,266 |  |  |  | - |  |  |  | 2,640,266 |  |  |  | 1,615,144 |  |  |  | - |  |  |  | 1,615,144 |
|  | $ | 10,991,943 |  |  |  | - |  |  | $ | 10,991,943 |  |  | $ | 14,402,917 |  |  | $ | 1,666,312 |  |  | $ | 16,069,229 |
Provision for Income Taxes |
|  | 2023 |  |  | 2022 |
|  | Continuing Operations |  |  | Discontinued Operations |  |  | Total Income Statement |  |  | Continuing Operations |  |  | Discontinued Operations |  |  | Total Income Statement |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 2,558,279 |  |  |  | - |  |  | $ | 2,558,279 |  |  | $ | 4,528,423 |  |  | $ | 332,665 |  |  | $ | 4,861,088 |
Foreign |  |  | 967,152 |  |  |  | - |  |  |  | 967,152 |  |  |  | 572,555 |  |  |  | - |  |  |  | 572,555 |
State |  |  | 503,738 |  |  |  | - |  |  |  | 503,738 |  |  |  | 1,361,461 |  |  |  | 82,190 |  |  |  | 1,443,651 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (1,371,310 | ) |  |  | - |  |  |  | (1,371,310 | ) |  |  | (2,567,573 | ) |  |  | - |  |  |  | (2,567,573 | )
Foreign |  |  | (60,462 | ) |  |  | - |  |  |  | (60,462 | ) |  |  | - |  |  |  | - |  |  |  | - |
State |  |  | (190,457 | ) |  |  | - |  |  |  | (190,457 | ) |  |  | (542,410 | ) |  |  | - |  |  |  | (542,410 | )
|  | $ | 2,406,940 |  |  |  | - |  |  | $ | 2,406,940 |  |  | $ | 3,352,456 |  |  | $ | 414,855 |  |  | $ | 3,767,311 |
Reconciliation of Income Taxes Computed Using the U.S. Federal Statutory Rate to that Reflected in Operations |
|  | 2023 |  |  | 2022 |
|  | Amount |  |  | Percent |  |  | Amount |  |  | Percent |
Income taxes using U.S. federal statutory rate |  | $ | 2,308,308 |  |  |  | 21 | % |  | $ | 3,374,538 |  |  |  | 21 | %
State income taxes, net of federal benefit |  |  | 244,874 |  |  |  | 2 |  |  |  | 714,416 |  |  |  | 4 |
Impact on Foreign Repatriation Tax Reform |  |  | 306,330 |  |  |  | 3 |  |  |  | - |  |  |  | 0 |
Impact of foreign subsidiaries on effective tax rate |  |  | (297,728 | ) |  |  | (3 | ) |  |  | (41,404 | ) |  |  | 0 |
Impact of Research & Development tax credit |  |  | (136,343 | ) |  |  | (1 | ) |  |  | (131,005 | ) |  |  | (1 | )
Uncertain tax positions reserve |  |  | 461 |  |  |  | 0 |  |  |  | 54,705 |  |  |  | 0 |
Other net |  |  | (18,962 | ) |  |  | 0 |  |  |  | (203,939 | ) |  |  | (1 | )
|  | $ | 2,406,940 |  |  |  | 22 | % |  | $ | 3,767,311 |  |  |  | 23 | %
|  | 2023 |  |  | 2022 |
|  | Amount |  |  | Percent |  |  | Amount |  |  | Percent |
Income taxes using U.S. federal statutory rate |  | $ | 2,308,308 |  |  |  | 21 | % |  | $ | 3,024,612 |  |  |  | 21 | %
State income taxes, net of federal benefit |  |  | 244,874 |  |  |  | 2 |  |  |  | 649,486 |  |  |  | 4 |
Impact on Foreign Repatriation Tax Reform |  |  | 306,330 |  |  |  | 3 |  |  |  | - |  |  |  | 0 |
Impact of foreign subsidiaries on effective tax rate |  |  | (297,728 | ) |  |  | (3 | ) |  |  | (41,404 | ) |  |  | 0 |
Impact of Research & Development tax credit |  |  | (136,343 | ) |  |  | (1 | ) |  |  | (131,005 | ) |  |  | (1 | )
Uncertain tax positions reserve |  |  | 461 |  |  |  | 0 |  |  |  | 54,705 |  |  |  | 0 |
Other net |  |  | (18,962 | ) |  |  | 0 |  |  |  | (203,938 | ) |  |  | (1 | )
|  | $ | 2,406,940 |  |  |  | 22 | % |  | $ | 3,352,456 |  |  |  | 23 | %
|  | 2023 |  |  | 2022 |
|  | Amount |  |  | Percent |  |  | Amount |  |  | Percent |
Income taxes using U.S. federal statutory rate |  |  | - |  |  |  | 0 | % |  | $ | 349,925 |  |  |  | 21 | %
State income taxes, net of federal benefit |  |  | - |  |  |  | 0 |  |  |  | 64,930 |  |  |  | 4 |
|  | $ | - |  |  |  | 0 | % |  | $ | 414,855 |  |  |  | 25 | %
Reconciliation of Unrecognized Tax Benefits |
|  | 2023 |  |  | 2022 |
Balance at beginning of year |  | $ | 685,518 |  |  | $ | 672,098 |
Increase for positions taken during the current period |  |  | 34,293 |  |  |  | 58,586 |
Increase (decrease) for positions taken during the prior period |  |  | (59,779 | ) |  |  | - |
Decrease resulting from the expiration of the statute of limitations |  |  | (88,168 | ) |  |  | (45,166 | )
Balance at end of year |  | $ | 571,864 |  |  | $ | 685,518 |

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