Note 7 - Income Taxes (Tables)

12 Months Ended

Jul. 01, 2018

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	Ju ly 1, 20 1 8		July 2, 2017
Deferred tax assets:
Other	$	20,723	$	8,162
Total deferred tax assets		20,723		8,162
Deferred tax liabilities:
Land, buildings, and equipment		418,254		521,818
Unrealized gain on available-for-sale securities		905,056		1,529,585
Prepaid expenses and other		9,110		(15,582	)
Total deferred tax liabilities		1,332,420		2,035,821
Net deferred income taxes	$	1,311,697	$	2,027,659

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For the Years Ended
	20 1 8			2017
Taxes computed at statutory rate		27.5	%		34.0	%
State income taxes, net of Federal income tax benefit		3.6			3.2
Dividends received exclusion		(1.0	)		(1.8	)
Tax rate adjustment for change in tax law		(14.8	)		-
All other net		(1.3	)		(1.0	)
Net effective rate		14.0	%		34.4	%