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6. Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)
12 Months Ended
Aug. 31, 2016
Tables/Schedules  
Schedule of Components of Income Tax Expense (Benefit)

 

 

2016

 

2015

 

 

 

 

 

 

 

 

Computed tax at the federal statutory rate

$  1,194,943

 

$  1,002,996

State taxes, net of federal benefit

169,869

 

144,893

Depreciation

(5,834)

 

16,473

Inventory reserve

32,269

 

33,216

Other

3,547

 

10,699

 

 

 

 

Provision for income taxes

$  1,394,794

 

$  1,208,277

 

 

 

 

Current income taxes

$  1,394,794

 

$  1,208,277

Deferred income taxes

(2,947)

 

(26,672)

Total income tax expense

$  1,391,847

 

$  1,818,605