Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.1.9
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 03, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis
The following table presents a summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis for 2014 and 2013:
 
 
Level 3 Inputs
Balance at December 29, 2012
 
$
8,208,831

Interest expense charged during the year
 
153,200

Payment to Palmer sellers
 
(2,500,000
)
Balance at December 28, 2013
 
5,862,031

Present value of contingent consideration liability associated with the Specialty acquisition
 
4,773,620

Interest expense charged during the year
 
96,933

Change in fair value of contingent consideration liability associated with the Palmer acquisition
 
(3,476,197
)
Balance at January 3, 2015
 
$
7,256,387