Note 15 – Subsequent Events

On May 30, 2023, the Company and the FTB entered into the Settlement Agreement to resolve the FTB’s proposed assessment of additional income tax to the Company’s consolidated income tax returns for the fiscal years ended April 2, 2017, April 1, 2018 and March 31, 2019.  Because the examination was ongoing as of April 2, 2023, and because the Settlement Agreement was entered into prior to the issuance of the accompanying consolidated financial statements, the Company recorded the effect of the Settlement Agreement in the accompanying consolidated balance sheet as of April 2, 2023 and the consolidated statement of income for fiscal year 2023.

The Company has evaluated events that have occurred between April 2, 2023 and the date that the accompanying financial statements were issued, and has determined that there are no other material subsequent events that require disclosure.