Note 7 - Related Party Transaction |
3 Months Ended |
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Jul. 01, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] |
Note
7 – Related Party Transaction
On
August 4, 2017, Carousel entered into a lease of the Carousel facilities in Douglasville, Georgia with JST Capital, LLC (“JST”), a wholly-owned subsidiary of Pritech, Inc., which is owned by the Chief Executive Officer and former President of Carousel. Carousel made lease payments of $24,000 to JST for the three -month period ended July 1, 2018. Of this amount, $20,000 was included in cost of products sold and $4,000 was included in marketing and administrative expenses in the accompanying unaudited condensed consolidated statements of income. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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