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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) | 12 Months Ended
--- | ---
Aug. 31, 2019 | Aug. 31, 2018
Revenues: |  |  |
Total revenues | [1] | $ 20,361,509 | $ 6,959,199
Expenses: |  |  |
Water service operations |  | (1,502,370) | (1,379,644)
Wastewater service operations |  | (28,020) | (28,350)
Land development construction costs |  | (11,304,962) | (2,013,840)
Other |  | (140,118) | (88,318)
Depletion and depreciation |  | (968,229) | (651,449)
Total cost of revenues |  | (13,943,699) | (4,161,601)
Gross profit |  | 6,417,810 | 2,797,598
General and administrative expenses |  | (3,106,548) | (2,855,095)
Depreciation |  | (312,602) | (251,230)
Operating income (loss) |  | 2,998,661 | (308,727)
Other income (expense): |  |  |
Oil and gas lease income, net |  | 55,733 | 51,089
Oil and gas royalty income, net |  | 148,327 | 191,309
Interest income |  | 298,605 | 206,138
Other |  | 26,627 | (7,129)
Net income before taxes |  | 3,527,953 | 132,680
Income tax benefit |  | 1,283,195 | 282,000
Net income |  | 4,811,148 | 414,680
Unrealized holding (losses) gains |  | (62,556) | 77,551
Total comprehensive income |  | $ 4,748,592 | $ 492,231
Basic and diluted net income per common share (in dollars per share) |  | $ 0.20 | $ 0.02
Weighted average common shares outstanding-basic (in shares) |  | 23,795,973 | 23,760,765
Weighted average common shares outstanding-diluted (in shares) |  | 24,002,836 | 23,930,535
Metered Water Usage [Member] |  |  |
Revenues: |  |  |
Total revenues |  | $ 4,654,344 | $ 4,555,912
Wastewater Treatment Fees [Member] |  |  |
Revenues: |  |  |
Total revenues |  | 35,818 | 46,199
Special Facility Funding Recognized [Member] |  |  |
Revenues: |  |  |
Total revenues |  | 0 | 0
Water Tap Fees Recognized [Member] |  |  |
Revenues: |  |  |
Total revenues |  | 3,544,737 | 49,948
Lot Sales [Member] |  |  |
Revenues: |  |  |
Total revenues |  | 11,955,989 | 2,138,950
Other [Member] |  |  |
Revenues: |  |  |
Total revenues |  | $ 170,621 | $ 168,190
[1] | The Company had other income from non-segment sources (oil and gas, interest and other) of $529,293 and $441,407 for the fiscal years ended August 31, 2019 and 2018, respectively.

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