Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Winmark Corporation Announces Year End Results By: Winmark Corporation via Business Wire February 21, 2024 at 10:39 AM EST Winmark Corporation (Nasdaq: WINA) announced today net income for the year ended December 30, 2023 of $40,178,100 or $11.04 per share diluted compared to net income of $39,424,900 or $10.97 per share diluted in 2022. The fourth quarter 2023 net income was $9,716,800 or $2.64 per share diluted, compared to net income of $10,176,600 or $2.86 per share diluted, for the same period last year. Revenues for the year ended December 30, 2023 were $83,243,500, up from $81,410,800 in 2022. 2023 results were impacted by the Company’s decision in May 2021 to run-off its leasing portfolio. Additionally, financial performance for the fourth quarter and full year 2022 included an extra week of operations due to the Company’s fiscal year ending on the last Saturday of December. “Our 2023 results reflected positive performance by our franchise partners; however, growth was lower in the second half of the year,” commented Brett D. Heffes, Chair and Chief Executive Officer. Winmark - the Resale Company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At December 30, 2023, there were 1,319 franchises in operation and over 2,800 available territories. An additional 71 franchises have been awarded but are not open. This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements. WINMARK CORPORATION CONDENSED BALANCE SHEETS (Unaudited) December 30, 2023 December 31, 2022 ASSETS Current Assets: Cash and cash equivalents $ 13,361,500 $ 13,615,600 Restricted cash 25,000 65,000 Receivables, net 1,475,300 1,438,600 Net investment in leases - current 75,100 344,900 Income tax receivable 31,400 558,700 Inventories 386,100 770,600 Prepaid expenses 1,392,100 1,310,400 Total current assets 16,746,500 18,103,800 Net investment in leases – long-term — 5,400 Property and equipment, net 1,669,800 1,704,600 Operating lease right of use asset 2,425,900 2,716,000 Intangible assets, net 2,994,300 3,348,300 Goodwill 607,500 607,500 Other assets 471,300 429,700 Deferred income taxes 4,052,400 3,540,400 $ 28,967,700 $ 30,455,700 LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) Current Liabilities: Notes payable, net $ 4,217,900 $ 4,217,900 Accounts payable 1,719,400 2,122,000 Accrued liabilities 2,858,200 2,611,700 Deferred revenue 1,666,100 1,643,900 Total current liabilities 10,461,600 10,595,500 Long-Term Liabilities: Line of credit/Term loan 30,000,000 30,000,000 Notes payable, net 34,848,800 39,066,700 Deferred revenue 7,657,500 6,974,200 Operating lease liabilities 3,715,800 4,287,000 Other liabilities 1,440,100 1,164,400 Total long-term liabilities 77,662,200 81,492,300 Shareholders’ Equity (Deficit): Common stock, no par, 10,000,000 shares authorized, 3,496,977 and 3,459,673 shares issued and outstanding 7,768,800 1,806,700 Retained earnings (accumulated deficit) (66,924,900 ) (63,438,800 ) Total shareholders’ equity (deficit) (59,156,100 ) (61,632,100 ) $ 28,967,700 $ 30,455,700 WINMARK CORPORATION CONDENSED STATEMENTS OF OPERATIONS (Unaudited) Quarter Ended Fiscal Year Ended December 30, 2023 December 31, 2022 December 30, 2023 December 31, 2022 Revenue: Royalties $ 17,167,200 $ 17,917,700 $ 70,230,700 $ 67,148,100 Leasing income 817,600 1,091,900 4,766,200 6,937,700 Merchandise sales 1,159,200 1,234,100 4,761,100 3,921,600 Franchise fees 378,600 415,200 1,512,000 1,575,400 Other 517,300 466,800 1,973,500 1,828,000 Total revenue 20,039,900 21,125,700 83,243,500 81,410,800 Cost of merchandise sold 1,091,100 1,160,500 4,461,500 3,712,800 Leasing expense 16,600 92,800 398,300 984,700 Provision for credit losses (1,000 ) (11,300 ) (5,600 ) (57,900 ) Selling, general and administrative expenses 6,414,400 6,485,300 25,108,700 23,158,400 Income from operations 12,518,800 13,398,400 53,280,600 53,612,800 Interest expense (751,100 ) (869,300 ) (3,091,000 ) (2,914,900 ) Interest and other income 368,300 78,600 1,171,700 85,600 Income before income taxes 12,136,000 12,607,700 51,361,300 50,783,500 Provision for income taxes (2,419,200 ) (2,431,100 ) (11,183,200 ) (11,358,600 ) Net income $ 9,716,800 $ 10,176,600 $ 40,178,100 $ 39,424,900 Earnings per share - basic $ 2.78 $ 2.95 $ 11.55 $ 11.30 Earnings per share - diluted $ 2.64 $ 2.86 $ 11.04 $ 10.97 Weighted average shares outstanding - basic 3,494,544 3,452,399 3,479,936 3,487,732 Weighted average shares outstanding - diluted 3,679,444 3,556,190 3,640,524 3,592,456 WINMARK CORPORATION CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) Year Ended December 30, 2023 December 31, 2022 OPERATING ACTIVITIES: Net income $ 40,178,100 $ 39,424,900 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 772,700 603,100 Provision for credit losses (5,600 ) (57,900 ) Compensation expense related to stock options 1,952,400 1,652,400 Deferred income taxes (512,000 ) (287,700 ) Gain from disposal of property and equipment — (9,400 ) Operating lease right of use asset amortization 290,100 266,000 Tax benefits on exercised stock options 1,138,500 858,300 Change in operating assets and liabilities: Receivables (36,700 ) (335,200 ) Principal collections on lease receivables 556,000 3,646,700 Income tax receivable/payable (611,200 ) (749,500 ) Inventories 384,500 (445,400 ) Prepaid expenses (81,700 ) (301,800 ) Other assets (41,600 ) (11,400 ) Accounts payable (402,600 ) 23,000 Accrued and other liabilities (16,900 ) 222,800 Rents received in advance and security deposits (275,200 ) (819,200 ) Deferred revenue 705,500 109,600 Net cash provided by operating activities 43,994,300 43,789,300 INVESTING ACTIVITIES: Proceeds from sales of property and equipment 9,400 Purchase of property and equipment (383,900 ) (139,100 ) Reacquired franchise rights — (3,540,000 ) Net cash used for investing activities (383,900 ) (3,669,700 ) FINANCING ACTIVITIES: Proceeds from borrowings on line of credit/term loan — 33,700,000 Payments on line of credit/term loan — (3,700,000 ) Payments on notes payable (4,250,000 ) (4,250,000 ) Repurchases of common stock — (49,119,800 ) Proceeds from exercises of stock options 4,009,700 4,751,700 Dividends paid (43,664,200 ) (19,257,900 ) Net cash used for financing activities (43,904,500 ) (37,876,000 ) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (294,100 ) 2,243,600 Cash, cash equivalents and restricted cash, beginning of period 13,680,600 11,437,000 Cash, cash equivalents and restricted cash, end of period $ 13,386,500 $ 13,680,600 SUPPLEMENTAL DISCLOSURES: Cash paid for interest $ 3,049,400 $ 2,722,500 Cash paid for income taxes $ 10,874,300 $ 11,308,800 The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Balance Sheets to the total of the same amounts shown above: Year Ended December 30, 2023 December 31, 2022 Cash and cash equivalents $ 13,361,500 $ 13,615,600 Restricted cash 25,000 65,000 Total cash, cash equivalents and restricted cash $ 13,386,500 $ 13,680,600 View source version on businesswire.com: https://www.businesswire.com/news/home/20240221814233/en/Contacts Anthony D. 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Winmark Corporation Announces Year End Results By: Winmark Corporation via Business Wire February 21, 2024 at 10:39 AM EST Winmark Corporation (Nasdaq: WINA) announced today net income for the year ended December 30, 2023 of $40,178,100 or $11.04 per share diluted compared to net income of $39,424,900 or $10.97 per share diluted in 2022. The fourth quarter 2023 net income was $9,716,800 or $2.64 per share diluted, compared to net income of $10,176,600 or $2.86 per share diluted, for the same period last year. Revenues for the year ended December 30, 2023 were $83,243,500, up from $81,410,800 in 2022. 2023 results were impacted by the Company’s decision in May 2021 to run-off its leasing portfolio. Additionally, financial performance for the fourth quarter and full year 2022 included an extra week of operations due to the Company’s fiscal year ending on the last Saturday of December. “Our 2023 results reflected positive performance by our franchise partners; however, growth was lower in the second half of the year,” commented Brett D. Heffes, Chair and Chief Executive Officer. Winmark - the Resale Company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At December 30, 2023, there were 1,319 franchises in operation and over 2,800 available territories. An additional 71 franchises have been awarded but are not open. This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements. WINMARK CORPORATION CONDENSED BALANCE SHEETS (Unaudited) December 30, 2023 December 31, 2022 ASSETS Current Assets: Cash and cash equivalents $ 13,361,500 $ 13,615,600 Restricted cash 25,000 65,000 Receivables, net 1,475,300 1,438,600 Net investment in leases - current 75,100 344,900 Income tax receivable 31,400 558,700 Inventories 386,100 770,600 Prepaid expenses 1,392,100 1,310,400 Total current assets 16,746,500 18,103,800 Net investment in leases – long-term — 5,400 Property and equipment, net 1,669,800 1,704,600 Operating lease right of use asset 2,425,900 2,716,000 Intangible assets, net 2,994,300 3,348,300 Goodwill 607,500 607,500 Other assets 471,300 429,700 Deferred income taxes 4,052,400 3,540,400 $ 28,967,700 $ 30,455,700 LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) Current Liabilities: Notes payable, net $ 4,217,900 $ 4,217,900 Accounts payable 1,719,400 2,122,000 Accrued liabilities 2,858,200 2,611,700 Deferred revenue 1,666,100 1,643,900 Total current liabilities 10,461,600 10,595,500 Long-Term Liabilities: Line of credit/Term loan 30,000,000 30,000,000 Notes payable, net 34,848,800 39,066,700 Deferred revenue 7,657,500 6,974,200 Operating lease liabilities 3,715,800 4,287,000 Other liabilities 1,440,100 1,164,400 Total long-term liabilities 77,662,200 81,492,300 Shareholders’ Equity (Deficit): Common stock, no par, 10,000,000 shares authorized, 3,496,977 and 3,459,673 shares issued and outstanding 7,768,800 1,806,700 Retained earnings (accumulated deficit) (66,924,900 ) (63,438,800 ) Total shareholders’ equity (deficit) (59,156,100 ) (61,632,100 ) $ 28,967,700 $ 30,455,700 WINMARK CORPORATION CONDENSED STATEMENTS OF OPERATIONS (Unaudited) Quarter Ended Fiscal Year Ended December 30, 2023 December 31, 2022 December 30, 2023 December 31, 2022 Revenue: Royalties $ 17,167,200 $ 17,917,700 $ 70,230,700 $ 67,148,100 Leasing income 817,600 1,091,900 4,766,200 6,937,700 Merchandise sales 1,159,200 1,234,100 4,761,100 3,921,600 Franchise fees 378,600 415,200 1,512,000 1,575,400 Other 517,300 466,800 1,973,500 1,828,000 Total revenue 20,039,900 21,125,700 83,243,500 81,410,800 Cost of merchandise sold 1,091,100 1,160,500 4,461,500 3,712,800 Leasing expense 16,600 92,800 398,300 984,700 Provision for credit losses (1,000 ) (11,300 ) (5,600 ) (57,900 ) Selling, general and administrative expenses 6,414,400 6,485,300 25,108,700 23,158,400 Income from operations 12,518,800 13,398,400 53,280,600 53,612,800 Interest expense (751,100 ) (869,300 ) (3,091,000 ) (2,914,900 ) Interest and other income 368,300 78,600 1,171,700 85,600 Income before income taxes 12,136,000 12,607,700 51,361,300 50,783,500 Provision for income taxes (2,419,200 ) (2,431,100 ) (11,183,200 ) (11,358,600 ) Net income $ 9,716,800 $ 10,176,600 $ 40,178,100 $ 39,424,900 Earnings per share - basic $ 2.78 $ 2.95 $ 11.55 $ 11.30 Earnings per share - diluted $ 2.64 $ 2.86 $ 11.04 $ 10.97 Weighted average shares outstanding - basic 3,494,544 3,452,399 3,479,936 3,487,732 Weighted average shares outstanding - diluted 3,679,444 3,556,190 3,640,524 3,592,456 WINMARK CORPORATION CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) Year Ended December 30, 2023 December 31, 2022 OPERATING ACTIVITIES: Net income $ 40,178,100 $ 39,424,900 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 772,700 603,100 Provision for credit losses (5,600 ) (57,900 ) Compensation expense related to stock options 1,952,400 1,652,400 Deferred income taxes (512,000 ) (287,700 ) Gain from disposal of property and equipment — (9,400 ) Operating lease right of use asset amortization 290,100 266,000 Tax benefits on exercised stock options 1,138,500 858,300 Change in operating assets and liabilities: Receivables (36,700 ) (335,200 ) Principal collections on lease receivables 556,000 3,646,700 Income tax receivable/payable (611,200 ) (749,500 ) Inventories 384,500 (445,400 ) Prepaid expenses (81,700 ) (301,800 ) Other assets (41,600 ) (11,400 ) Accounts payable (402,600 ) 23,000 Accrued and other liabilities (16,900 ) 222,800 Rents received in advance and security deposits (275,200 ) (819,200 ) Deferred revenue 705,500 109,600 Net cash provided by operating activities 43,994,300 43,789,300 INVESTING ACTIVITIES: Proceeds from sales of property and equipment 9,400 Purchase of property and equipment (383,900 ) (139,100 ) Reacquired franchise rights — (3,540,000 ) Net cash used for investing activities (383,900 ) (3,669,700 ) FINANCING ACTIVITIES: Proceeds from borrowings on line of credit/term loan — 33,700,000 Payments on line of credit/term loan — (3,700,000 ) Payments on notes payable (4,250,000 ) (4,250,000 ) Repurchases of common stock — (49,119,800 ) Proceeds from exercises of stock options 4,009,700 4,751,700 Dividends paid (43,664,200 ) (19,257,900 ) Net cash used for financing activities (43,904,500 ) (37,876,000 ) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (294,100 ) 2,243,600 Cash, cash equivalents and restricted cash, beginning of period 13,680,600 11,437,000 Cash, cash equivalents and restricted cash, end of period $ 13,386,500 $ 13,680,600 SUPPLEMENTAL DISCLOSURES: Cash paid for interest $ 3,049,400 $ 2,722,500 Cash paid for income taxes $ 10,874,300 $ 11,308,800 The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Balance Sheets to the total of the same amounts shown above: Year Ended December 30, 2023 December 31, 2022 Cash and cash equivalents $ 13,361,500 $ 13,615,600 Restricted cash 25,000 65,000 Total cash, cash equivalents and restricted cash $ 13,386,500 $ 13,680,600 View source version on businesswire.com: https://www.businesswire.com/news/home/20240221814233/en/Contacts Anthony D. Ishaug 763/520-8500
Winmark Corporation (Nasdaq: WINA) announced today net income for the year ended December 30, 2023 of $40,178,100 or $11.04 per share diluted compared to net income of $39,424,900 or $10.97 per share diluted in 2022. The fourth quarter 2023 net income was $9,716,800 or $2.64 per share diluted, compared to net income of $10,176,600 or $2.86 per share diluted, for the same period last year. Revenues for the year ended December 30, 2023 were $83,243,500, up from $81,410,800 in 2022. 2023 results were impacted by the Company’s decision in May 2021 to run-off its leasing portfolio. Additionally, financial performance for the fourth quarter and full year 2022 included an extra week of operations due to the Company’s fiscal year ending on the last Saturday of December. “Our 2023 results reflected positive performance by our franchise partners; however, growth was lower in the second half of the year,” commented Brett D. Heffes, Chair and Chief Executive Officer. Winmark - the Resale Company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At December 30, 2023, there were 1,319 franchises in operation and over 2,800 available territories. An additional 71 franchises have been awarded but are not open. This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements. WINMARK CORPORATION CONDENSED BALANCE SHEETS (Unaudited) December 30, 2023 December 31, 2022 ASSETS Current Assets: Cash and cash equivalents $ 13,361,500 $ 13,615,600 Restricted cash 25,000 65,000 Receivables, net 1,475,300 1,438,600 Net investment in leases - current 75,100 344,900 Income tax receivable 31,400 558,700 Inventories 386,100 770,600 Prepaid expenses 1,392,100 1,310,400 Total current assets 16,746,500 18,103,800 Net investment in leases – long-term — 5,400 Property and equipment, net 1,669,800 1,704,600 Operating lease right of use asset 2,425,900 2,716,000 Intangible assets, net 2,994,300 3,348,300 Goodwill 607,500 607,500 Other assets 471,300 429,700 Deferred income taxes 4,052,400 3,540,400 $ 28,967,700 $ 30,455,700 LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) Current Liabilities: Notes payable, net $ 4,217,900 $ 4,217,900 Accounts payable 1,719,400 2,122,000 Accrued liabilities 2,858,200 2,611,700 Deferred revenue 1,666,100 1,643,900 Total current liabilities 10,461,600 10,595,500 Long-Term Liabilities: Line of credit/Term loan 30,000,000 30,000,000 Notes payable, net 34,848,800 39,066,700 Deferred revenue 7,657,500 6,974,200 Operating lease liabilities 3,715,800 4,287,000 Other liabilities 1,440,100 1,164,400 Total long-term liabilities 77,662,200 81,492,300 Shareholders’ Equity (Deficit): Common stock, no par, 10,000,000 shares authorized, 3,496,977 and 3,459,673 shares issued and outstanding 7,768,800 1,806,700 Retained earnings (accumulated deficit) (66,924,900 ) (63,438,800 ) Total shareholders’ equity (deficit) (59,156,100 ) (61,632,100 ) $ 28,967,700 $ 30,455,700 WINMARK CORPORATION CONDENSED STATEMENTS OF OPERATIONS (Unaudited) Quarter Ended Fiscal Year Ended December 30, 2023 December 31, 2022 December 30, 2023 December 31, 2022 Revenue: Royalties $ 17,167,200 $ 17,917,700 $ 70,230,700 $ 67,148,100 Leasing income 817,600 1,091,900 4,766,200 6,937,700 Merchandise sales 1,159,200 1,234,100 4,761,100 3,921,600 Franchise fees 378,600 415,200 1,512,000 1,575,400 Other 517,300 466,800 1,973,500 1,828,000 Total revenue 20,039,900 21,125,700 83,243,500 81,410,800 Cost of merchandise sold 1,091,100 1,160,500 4,461,500 3,712,800 Leasing expense 16,600 92,800 398,300 984,700 Provision for credit losses (1,000 ) (11,300 ) (5,600 ) (57,900 ) Selling, general and administrative expenses 6,414,400 6,485,300 25,108,700 23,158,400 Income from operations 12,518,800 13,398,400 53,280,600 53,612,800 Interest expense (751,100 ) (869,300 ) (3,091,000 ) (2,914,900 ) Interest and other income 368,300 78,600 1,171,700 85,600 Income before income taxes 12,136,000 12,607,700 51,361,300 50,783,500 Provision for income taxes (2,419,200 ) (2,431,100 ) (11,183,200 ) (11,358,600 ) Net income $ 9,716,800 $ 10,176,600 $ 40,178,100 $ 39,424,900 Earnings per share - basic $ 2.78 $ 2.95 $ 11.55 $ 11.30 Earnings per share - diluted $ 2.64 $ 2.86 $ 11.04 $ 10.97 Weighted average shares outstanding - basic 3,494,544 3,452,399 3,479,936 3,487,732 Weighted average shares outstanding - diluted 3,679,444 3,556,190 3,640,524 3,592,456 WINMARK CORPORATION CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) Year Ended December 30, 2023 December 31, 2022 OPERATING ACTIVITIES: Net income $ 40,178,100 $ 39,424,900 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 772,700 603,100 Provision for credit losses (5,600 ) (57,900 ) Compensation expense related to stock options 1,952,400 1,652,400 Deferred income taxes (512,000 ) (287,700 ) Gain from disposal of property and equipment — (9,400 ) Operating lease right of use asset amortization 290,100 266,000 Tax benefits on exercised stock options 1,138,500 858,300 Change in operating assets and liabilities: Receivables (36,700 ) (335,200 ) Principal collections on lease receivables 556,000 3,646,700 Income tax receivable/payable (611,200 ) (749,500 ) Inventories 384,500 (445,400 ) Prepaid expenses (81,700 ) (301,800 ) Other assets (41,600 ) (11,400 ) Accounts payable (402,600 ) 23,000 Accrued and other liabilities (16,900 ) 222,800 Rents received in advance and security deposits (275,200 ) (819,200 ) Deferred revenue 705,500 109,600 Net cash provided by operating activities 43,994,300 43,789,300 INVESTING ACTIVITIES: Proceeds from sales of property and equipment 9,400 Purchase of property and equipment (383,900 ) (139,100 ) Reacquired franchise rights — (3,540,000 ) Net cash used for investing activities (383,900 ) (3,669,700 ) FINANCING ACTIVITIES: Proceeds from borrowings on line of credit/term loan — 33,700,000 Payments on line of credit/term loan — (3,700,000 ) Payments on notes payable (4,250,000 ) (4,250,000 ) Repurchases of common stock — (49,119,800 ) Proceeds from exercises of stock options 4,009,700 4,751,700 Dividends paid (43,664,200 ) (19,257,900 ) Net cash used for financing activities (43,904,500 ) (37,876,000 ) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (294,100 ) 2,243,600 Cash, cash equivalents and restricted cash, beginning of period 13,680,600 11,437,000 Cash, cash equivalents and restricted cash, end of period $ 13,386,500 $ 13,680,600 SUPPLEMENTAL DISCLOSURES: Cash paid for interest $ 3,049,400 $ 2,722,500 Cash paid for income taxes $ 10,874,300 $ 11,308,800 The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Balance Sheets to the total of the same amounts shown above: Year Ended December 30, 2023 December 31, 2022 Cash and cash equivalents $ 13,361,500 $ 13,615,600 Restricted cash 25,000 65,000 Total cash, cash equivalents and restricted cash $ 13,386,500 $ 13,680,600 View source version on businesswire.com: https://www.businesswire.com/news/home/20240221814233/en/