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Note 3. Property and Equipment

3 Months Ended

May 31, 2014

Note 3. Property and Equipment

Property and equipment consisted of the following:

	May 31, 2014			August 31, 2013

Equipment	$	1,460,579		$	1,401,811
Rental equipment		58,940			58,940
Furniture and fixtures		303,226			300,061
Building improvements		54,736			54,736
Building		956,000			956,000
Land		244,000			244,000

		3,077,481			3,015,548
Less accumulated depreciation		(1,785,267	)		(1,695,668	)

Property and equipment, net	$	1,292,214		$	1,319,880

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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