INTANGIBLE ASSETS

9 Months Ended

Oct. 01, 2023

INTANGIBLE ASSETS

INTANGIBLE ASSETS

 NOTE 2 – INTANGIBLE ASSETS

At October 1, 2023, the value of acquired assets, Intangible Assets being amortized are the following

	Estimated Useful Life     (Years)		Original Cost		Accumulated Amortization			Net Carrying Value
Covenants not to Compete		3	$	98,000	$	(50,100	)	$	47,900
Trademarks		15		393,000		(40,134	)		352,866
			$	491,000	$	(90,234	)	$	400,766

Tradename assets are being amortized over 15 years at $26,000 annually. The total amortization of intangible assets, including covenants not to compete, will approximate $58,900 in 2023 and 2024, $40,500 in 2025, $26,200 per year thereafter following six years and $7,500 in 2037.

Total amortization expense for the 13 weeks was $12,221, and for the 39 weeks ending October 1, 2023, was $54,486.