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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
May 31, 2024
Aug. 31, 2023
Current assets    
Cash and cash equivalents $ 1,054,704 $ 83,696
Accounts receivable, net of allowance of $0 (August 31, 2023 - $0) 7,408,344 5,634,924
Inventory, net of allowance of $90,536 (August 31, 2023 - $497,884) (note 3) 13,470,934 18,339,048
Prepaid expenses 1,402,472 630,788
Total current assets 23,336,454 24,688,456
Property, plant and equipment, net (note 4) 4,482,130 4,655,427
Intangible assets, net (note 5) 112,431 134,845
Deferred tax assets (note 6) 396,788 319,875
Total assets 28,327,803 29,798,603
Current liabilities    
Accounts payable 787,563 2,181,194
Bank indebtedness (note 7) 0 1,259,259
Income taxes payable 244,108 147,629
Accrued liabilities 2,254,484 2,113,194
Total liabilities 3,286,155 5,701,276
Stockholders’ equity    
Capital stock (notes 8, 9) Authorized 21,567,564 common shares, no par value 10,000,000 preferred shares, no par value Issued 3,504,802 common shares (August 31, 2023 – 3,498,899) 826,861 825,468
Additional paid-in capital 795,726 765,055
Retained earnings 23,419,061 22,506,804
Total stockholders’ equity 25,041,648 24,097,327
Total liabilities and stockholders’ equity $ 28,327,803 $ 29,798,603