Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets (USD $)
Mar. 30, 2013
Dec. 29, 2012
Current assets    
Cash and cash equivalents $ 133,993 $ 1,085,261
Accounts receivable, less allowance for doubtful accounts 35,281,312 31,177,526
Inventories, net 51,022,155 50,163,392
Deferred income taxes 2,944,434 2,981,439
Prepaid expenses and other current assets 5,650,731 5,514,530
Total current assets 95,032,625 90,922,148
Cash value of life insurance 2,576,220 2,549,220
Property, plant and equipment, net of accumulated depreciation of $41,684,812 and $40,966,957, respectively 28,465,383 28,034,930
Goodwill 18,252,678 18,252,678
Deferred charges, net 296,782 287,564
Intangible asset, net 8,077,500 8,460,000
Total assets 152,701,188 148,506,540
Current liabilities    
Current portion of long-term debt 2,274,109 2,274,054
Accounts payable 15,801,878 10,523,788
Accrued expenses 8,814,444 12,083,499
Current portion of environmental reserves 136,875 122,000
Total current liabilities 27,027,306 25,003,341
Long-term debt 38,112,579 37,593,309
Long-term environmental reserves 518,000 518,000
Long-term deferred compensation 264,122 263,872
Long-term contingent consideration 5,751,431 5,708,831
Deferred income taxes 7,645,119 7,645,119
Shareholders' equity    
Common stock, par value $1 per share - authorized 12,000,000 shares; issued 8,000,000 shares 8,000,000 8,000,000
Capital in excess of par value 1,413,138 1,398,612
Retained earnings 78,302,208 76,836,761
Shareholders' equity before treasury stock 87,715,346 86,235,373
Less cost of common stock in treasury: 1,627,589 and 1,643,267 shares, respectively 14,332,715 14,461,305
Total shareholders' equity 73,382,631 71,774,068
Commitments and contingencies – See Note 10      
Total liabilities and shareholders' equity $ 152,701,188 $ 148,506,540