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Note 2 - Significant Accounting Policies
3 Months Ended
Apr. 03, 2022
Notes to Financial Statements  
Significant Accounting Policies [Text Block]

Note 2 — Significant Accounting Policies

 

During the three month period ended April 3, 2022, there were no changes in the Company's significant accounting policies from its disclosures in the Annual Report on Form 10-K for the year ended January 2, 2022. For a discussion of the significant accounting policies, please see the Annual Report on Form 10-K for the fiscal year ended January 2, 2022, filed with the SEC on March 22, 2022.


Recent Accounting Standards Adopted

 

In May 2021, the Financial Accounting Standards Board ("FASB") issued ASU No. 2021-04, Issuers Accounting for Certain Modifications of Exchanges of Freestanding Equity-Classified Written Call Options to clarify the accounting for modifications or exchanges of freestanding equity-classified written call options, such as warrants, that remain equity classified after modification or exchange. This ASU became effective for the Company on January 3, 2022 and did not have a material impact on the Company's consolidated financial statements.