Note 4 - Discontinued Operations
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9 Months Ended |
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Jan. 01, 2012
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Note 4 - Discontinued Operations Disclosure | |
Note 4 - Discontinued Operations |
Note
4 Discontinued Operations
In
June 2007, the operations of Churchill Weavers, Inc.
(Churchill), a wholly-owned subsidiary of the
Company, ceased and all employees were terminated. The
Company is actively marketing Churchills land and building
for sale. The Churchill property is recorded at fair
value, less cost to sell, and is classified as assets held for
sale in the accompanying consolidated balance
sheets. The costs to maintain the Churchill property
are classified as discontinued operations in the accompanying
consolidated statements of income.
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- Details
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- Definition
The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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