Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Jun. 28, 2014
Dec. 28, 2013
Current assets    
Cash and cash equivalents $ 6,088,473 $ 1,776,763
Accounts receivable, less allowance for doubtful accounts of $1,157,288 and $1,079,288, respectively 41,637,616 34,089,364
Inventories, net 51,985,402 55,856,803
Deferred income taxes 3,747,854 3,776,647
Prepaid expenses and other current assets 4,956,953 4,111,775
Total current assets 108,416,298 99,611,352
Cash value of life insurance 2,055,419 2,007,419
Property, plant and equipment, net of accumulated depreciation of $46,354,461 and $44,229,008, respectively 36,570,126 35,883,376
Goodwill 18,252,678 18,252,678
Intangible asset, net 6,285,000 6,930,000
Deferred charges, net and other non-current assets 363,191 575,546
Total assets 171,942,712 163,260,371
Current liabilities    
Accounts payable 18,966,292 12,430,290
Accrued expenses 11,356,202 9,511,528
Current portion of long-term debt 2,533,908 2,533,908
Other current liabilities 168,520 147,500
Total current liabilities 33,024,922 24,623,226
Long-term debt 19,637,756 20,904,708
Long-term contingent consideration 2,445,833 3,362,031
Deferred income taxes 7,573,999 7,573,999
Other long-term liabilities 698,594 698,294
Shareholders' equity    
Common stock, par value $1 per share - authorized 12,000,000 shares; issued 10,300,000 shares 10,300,000 10,300,000
Capital in excess of par value 33,822,455 33,657,714
Retained earnings 78,514,163 76,337,597
Shareholders' equity before treasury stock 122,636,618 120,295,311
Less cost of common stock in treasury: 1,595,847 and 1,612,200 shares, respectively 14,075,010 14,197,198
Total shareholders' equity 108,561,608 106,098,113
Commitments and contingencies – See Note 11      
Total liabilities and shareholders' equity $ 171,942,712 $ 163,260,371