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INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 04, 2016
May. 29, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 1,538,052 $ 1,159,449
Receivables, net 10,661,928 11,085,689
Inventories:    
Raw materials and supplies 1,889,010 1,781,397
Finished goods 3,892,028 3,460,800
Inventories, net 5,781,038 5,242,197
Prepaid expenses 1,321,476 1,350,201
Income taxes receivable 0 476,154
Deferred income taxes 1,139,433 1,139,433
Total current assets 20,441,927 20,453,123
Property, plant and equipment, net 22,378,544 24,488,478
Other assets 1,546,555 1,603,454
Total 44,367,026 46,545,055
CURRENT LIABILITIES    
Checks outstanding in excess of bank balances 2,461,537 1,068,745
Accounts payable 2,783,703 4,049,333
Accrued income taxes 137,770 0
Current portion of long-term debt 822,378 799,204
Current portion of capital lease obligation 32,497 0
Other accrued expenses 3,965,970 5,021,286
Salary continuation plan 112,689 106,148
Line of credit outstanding 733,803 2,823,477
Total current liabilities 11,050,347 13,868,193
LONG-TERM LIABILITIES    
Notes payable - bank, non-current 5,492,394 6,213,513
Capital lease obligation 45,003 0
Salary continuation plan 913,586 921,882
Deferred income taxes 3,856,793 3,856,793
Total long-term liabilities 10,307,776 10,992,188
STOCKHOLDERS' EQUITY    
Common stock - $.66-2/3 par value: 35,000,000 shares authorized Issued 13,828,793 shares 9,219,195 9,219,195
Additional paid-in capital 6,768,661 6,552,973
Retained earnings 20,158,041 19,049,500
Stockholder's equity before treasury stock 36,145,897 34,821,668
Less: Cost of common shares in treasury (2,537,036 shares at March 4, 2016 and May 29, 2015) (13,136,994) (13,136,994)
Total stockholders' equity 23,008,903 21,684,674
Total $ 44,367,026 $ 46,545,055