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JEWETT-CAMERON TRADING COMPANY LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
May 31, 2021
May 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 2,849,839 $ 1,216,089
Items not involving an outlay of cash:    
Depreciation and amortization 175,171 160,992
(Gain) on sale of property, plant and equipment 0 (2,600)
Deferred income tax expense (57,768) 39,571
(Increase) in accounts receivable (4,776,635) (4,044,507)
Decrease (increase) in inventory 1,430,506 (408,282)
(Increase) in notes receivable 0 (561,813)
(Increase) in prepaid expenses (1,544,728) (942,541)
Decrease in prepaid income taxes 0 101,686
Increase in accounts payable and accrued liabilities 736,595 1,448,292
Increase in income taxes payable 189,594 0
Net cash (used in) provided by operating activities (1,607,742) (2,993,113)
Stock-based compensation expense 70,391 0
Gain on debt extinguishment (680,707) 0
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment (1,019,259) (207,469)
Proceeds from sale of property, plant and equipment 0 3,900
Net cash provided by (used in) investing activities (1,019,259) (203,569)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from bank indebtedness 996,010 0
Increase in notes payable 0 680,707
Redemption of common stock 0 (3,867,046)
Net cash provided by (used in) financing activities 996,010 (3,186,339)
Net (decrease) in cash (1,630,991) (6,383,021)
Cash, beginning of period 3,801,037 9,652,310
Cash, end of period $ 2,170,046 $ 3,269,289