XML 13 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
JEWETT-CAMERON TRADING COMPANY LTD. CONSOLIDATED STATEMENTS OF OPERATIONS (Prepared by Management) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2017
May 31, 2016
May 31, 2017
May 31, 2016
Income statement        
SALES $ 16,718,234 $ 14,458,713 $ 36,639,323 $ 37,588,354
COST OF SALES 12,906,533 11,281,973 28,304,118 29,996,180
GROSS PROFIT 3,811,701 3,176,740 8,335,205 7,592,174
OPERATING EXPENSES        
Selling, general and administrative expenses 466,014 542,581 1,470,731 1,616,796
Depreciation and amortization 84,693 82,978 222,700 226,961
Wages and employee benefits 1,237,756 1,046,229 3,277,797 3,017,643
Total operating expenses (1,788,463) (1,671,788) (4,971,228) (4,861,400)
Income from operations 2,023,238 1,504,952 3,363,977 2,730,774
OTHER ITEMS        
(Loss) gain on sale of property, plant and equipment     (393) 5,600
Interest and other income 2,400 2,978 6,220 13,538
Interest expense       (27)
Litigation expense [1] (115,990)
Total other items 2,400 2,978 5,827 (96,879)
Income before income taxes 2,025,638 1,507,930 3,369,804 2,633,895
Income tax expense (819,503) (599,200) (1,368,736) (1,060,960)
Net income $ 1,206,135 $ 908,730 $ 2,001,068 $ 1,572,935
Basic earnings per common share $ 0.53 $ 0.37 $ 0.88 $ 0.64
Diluted earnings per common share $ 0.53 $ 0.37 $ 0.88 $ 0.64
Weighted average number of common shares outstanding: Basic 2,286,294 2,458,170 2,286,294 2,470,566
Weighted average number of common shares outstanding: Diluted 2,286,294 2,458,170 2,286,294 2,470,566
[1] Note 12 (a)