XML 37 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
INCOME TAXES: (Tables)
12 Months Ended
Mar. 30, 2018
Income Tax Disclosure [Abstract]  
Schedule of provision for income taxes

The provision for income taxes consists of the following:

 

   March 30,   March 31, 
   2018   2017 
Current:          
           
Federal  $449,123   $532,892 
State and local   222,732    429,785 
Total current tax provision   671,855    962,677 
           
Deferred:          
           
Federal   561,920    262,469 
State and local   556,453    81,864 
Total deferred tax benefit   1,118,373    344,333 
           
Total provision (benefit)  $1,790,228   $1,307,010 

 

Schedule of components of the Company's deferred taxes

The components of the Company’s deferred taxes at March 30, 2018 and March 31, 2017 are as follows:

 

   March 30,   March 31, 
   2018   2017 
Deferred tax assets:          
Accounts receivable reserves  $11,562   $11,562 
Accrued expenses   409,236    332,613 
Prepaid expenses   1,308,038    1,308,038 
    1,728,836    1,652,213 
           
Deferred tax liabilities:          
      Depreciation   209,234    (47,341)
           
Net deferred tax assets  before valuation allowance   1,938,070    1,604,872 
Valuation allowance   (1,938,070)   (1,604,872)
Net deferred tax assets  $   $ 
           

 

Schedule of reconciliation of the income tax benefit

A reconciliation of the income tax benefit at the statutory Federal tax rate to the income tax benefit recognized in the financial statements is as follows:

 

   March 30,   March 31, 
   2018   2017 
Income tax expense (benefit) – nine months    35%     
Income tax expense (benefit) – three months   21%     
Income tax expense (benefit)       34% 
Income tax expenses – state and local, net of federal benefit   12%    12%