ACQUISITIONS (Tables) - L.J. Kushner & Associates, L.L.C.

12 Months Ended

Dec. 29, 2019

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The preliminary allocation is as follows:



Accounts receivable	$	187,000
Prepaid expenses and other assets	14,000
Intangible assets	4,249,430
Goodwill	7,211,090
Total net assets acquired	$	11,661,520
Cash	$	7,500,000
Hold back (included in Other current liabilities)	1,000,000
Common stock	1,000,000
Fair value of contingent consideration	2,161,520
Total fair value of consideration transferred for acquired business	$	11,661,520

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The preliminary allocation of the intangible assets is as follows:



	Estimated Fair Value		Estimated Useful Lives
Covenants not to compete	$	500,000	5 years
Trade name	3,000,000		Indefinite
Client partner list	749,430		5 years
Total	$	4,249,430

Business Acquisition, Pro Forma Information

The Company estimates that the revenues and net income for the period below that would have been reported if the LJK acquisition had taken place on the first day of Fiscal 2018 would be as follows (dollars in thousands, except per share amounts):



	2019		2018
Revenues	$	297,362	$	290,195
Gross profit	$	83,730	$	79,927
Net income	$	14,089	$	18,329
Net income per share:
Basic	$	1.38	$	1.91
Diluted	$	1.36	$	1.87