Investment in Leasing Operations: (Tables)

6 Months Ended

Jun. 27, 2020

Investment in Leasing Operations:

Schedule of investment in leasing operations

	June 27, 2020		December 28, 2019
Direct financing and sales-type leases:
Minimum lease payments receivable	$	20,832,100	$	26,001,200
Estimated unguaranteed residual value of equipment		3,340,300		4,109,800
Unearned lease income, net of initial direct costs deferred		(2,350,800)		(4,039,400)
Security deposits		(2,757,300)		(3,852,000)
Equipment installed on leases not yet commenced		631,300		3,437,800
Total investment in direct financing and sales-type leases		19,695,600		25,657,400
Allowance for credit losses		(923,800)		(580,600)
Net investment in direct financing and sales-type leases		18,771,800		25,076,800
Operating leases:
Operating lease assets		612,600		820,700
Less accumulated depreciation and amortization		(543,300)		(591,900)
Net investment in operating leases		69,300		228,800
Total net investment in leasing operations	$	18,841,100	$	25,305,600

Schedule of future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred

	Direct Financing and Sales-Type Leases
	Minimum Lease		Income
Fiscal Year	Payments Receivable		Amortization
2020	$	7,994,800	$	1,205,600
2021		10,202,700		1,017,800
2022		2,546,000		122,000
2023		59,900		3,100
2024		15,200		1,600
Thereafter		13,500		700
	$	20,832,100	$	2,350,800

Schedule of activity in the allowance for credit losses for leasing operations

	June 27, 2020		June 29, 2019
Balance at beginning of period	$	580,600	$	861,200
Provisions charged to expense		503,900		79,400
Recoveries		(11,800)		10,600
Deductions for amounts written-off		(148,900)		(224,100)
Balance at end of period	$	923,800	$	727,100

Schedule of investment in direct financing and sales-type leases (investment in leases) and allowance for credit losses by loss evaluation methodology

	June 27, 2020				December 28, 2019
	Investment		Allowance for		Investment		Allowance for
	In Leases		Credit Losses		In Leases		Credit Losses
Collectively evaluated for loss potential	$	19,695,600		923,800	$	25,657,400	$	580,600
Individually evaluated for loss potential		—		—		—		—
Total	$	19,695,600	$	923,800	$	25,657,400	$	580,600

Schedule of information regarding accruing and non-accrual leases

	June 27, 2020
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	18,722,100	$	—	$	—	$	—	$	18,722,100
Small-Ticket		973,500		—		—		—		973,500
Total Investment in Leases	$	19,695,600	$	—	$	—	$	—	$	19,695,600

	December 28, 2019
	0-60 Days		61-90 Days		Over 90 Days
	Delinquent		Delinquent		Delinquent and
	and Accruing		and Accruing		Accruing		Non-Accrual		Total
Middle-Market	$	24,546,300	$	—	$	—	$	—	$	24,546,300
Small-Ticket		1,111,100		—		—		—		1,111,100
Total Investment in Leases	$	25,657,400	$	—	$	—	$	—	$	25,657,400

Schedule of components of leasing income

	Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
	June 27, 2020		June 29, 2019		June 27, 2020		June 29, 2019
Interest income on direct financing and sales-type leases	$	979,700	$	2,028,300	$	2,108,300	$	4,210,800
Selling profit (loss) at commencement of sales-type leases		872,700		—		1,185,900		873,500
Operating lease income		654,500		567,800		1,089,900		1,206,100
Income on sales of equipment under lease		903,600		546,300		4,164,900		1,771,900
Other		63,300		60,600		796,000		296,000
Leasing income	$	3,473,800	$	3,203,000	$	9,345,000	$	8,358,300