Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Mar. 29, 2014
Dec. 28, 2013
Current assets    
Cash and cash equivalents $ 6,834,739 $ 1,776,763
Accounts receivable, less allowance for doubtful accounts of $1,036,596 and $1,079,288, respectively 39,008,693 34,089,364
Inventories, net 58,089,875 55,856,803
Deferred income taxes 3,747,854 3,776,647
Prepaid expenses and other current assets 2,670,643 4,111,775
Total current assets 110,351,804 99,611,352
Cash value of life insurance 2,031,419 2,007,419
Property, plant and equipment, net of accumulated depreciation of $45,285,758 and $44,229,008, respectively 36,480,536 35,883,376
Goodwill 18,252,678 18,252,678
Intangible asset, net 6,607,500 6,930,000
Deferred charges, net and other non-current assets 516,634 575,546
Total assets 174,240,571 163,260,371
Current liabilities    
Accounts payable 22,677,895 12,430,290
Accrued expenses 8,843,111 9,511,528
Current portion of long-term debt 2,533,908 2,533,908
Other current liabilities 165,500 147,500
Total current liabilities 34,220,414 24,623,226
Long-term debt 20,271,232 20,904,708
Long-term contingent consideration 3,392,031 3,362,031
Deferred income taxes 7,573,999 7,573,999
Other long-term liabilities 818,730 698,294
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 33,682,022 33,657,714
Retained earnings 78,113,876 76,337,597
Shareholders' equity before treasury stock 122,095,898 120,295,311
Less cost of common stock in treasury: 1,604,766 and 1,612,200 shares, respectively 14,131,733 14,197,198
Total shareholders' equity 107,964,165 106,098,113
Commitments and contingencies – See Note 10      
Total liabilities and shareholders' equity $ 174,240,571 $ 163,260,371