Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 27, 2014
Dec. 28, 2013
Current assets    
Cash and cash equivalents $ 20,747,522 $ 1,773,743
Accounts receivable, less allowance for doubtful accounts of $1,559,562 and $1,079,288, respectively 29,645,862 29,923,485
Inventories, net 48,047,605 51,495,912
Deferred income taxes 4,011,318 3,776,647
Prepaid expenses and other current assets 4,297,478 4,091,489
Current assets held for sale 0 8,550,076
Total current assets 106,749,785 99,611,352
Cash value of life insurance 2,079,419 2,007,419
Property, plant and equipment, net of accumulated depreciation of $45,165,201 and $42,489,518, respectively 34,426,532 32,665,281
Goodwill 17,252,678 17,252,678
Intangible asset, net 5,962,500 6,930,000
Deferred charges, net and other non-current assets 428,865 575,546
Assets held for sale 0 4,218,095
Total assets 166,899,779 163,260,371
Current liabilities    
Accounts payable 14,118,095 11,440,573
Accrued expenses 12,366,051 9,182,369
Current portion of long-term debt 2,533,908 2,533,908
Other current liabilities 173,996 147,500
Current liabilities held for sale 0 1,318,876
Total current liabilities 29,192,050 24,623,226
Long-term debt 19,004,280 20,904,708
Long-term contingent consideration 0 3,362,031
Deferred income taxes 7,177,046 7,573,999
Other long-term liabilities 1,574,179 698,294
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 33,938,122 33,657,714
Retained earnings 79,792,653 76,337,597
Shareholders' equity before treasury stock 124,030,775 120,295,311
Less cost of common stock in treasury: 1,590,874 and 1,612,200 shares, respectively 14,078,551 14,197,198
Total shareholders' equity 109,952,224 106,098,113
Commitments and contingencies – See Note 11      
Total liabilities and shareholders' equity $ 166,899,779 $ 163,260,371