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6. Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)
12 Months Ended
Aug. 31, 2020
Tables/Schedules  
Schedule of Components of Income Tax Expense (Benefit)

 

 

2020

 

2019

 

 

 

 

 

 

Computed tax at the federal statutory rate

$

807,223

 

$

605,466

State taxes, net of federal benefit

 

218,611

 

 

173,114

Depreciation

 

(33,518)

 

 

920

Inventory reserve

 

7,587

 

 

20,458

Other

 

68,980

 

 

8,383

 

 

 

 

 

 

Provision for income taxes

$

1,068,883

 

$

808,341

 

 

 

 

 

 

Current income taxes

$

1,068,883

 

$

808,341

Deferred income taxes

 

35,748

 

 

(20,649)

 

$

1,104,631

 

$

787,692