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JEWETT-CAMERON TRADING COMPANY LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended
--- | ---
Aug. 31, 2015 | Aug. 31, 2014
Income statement |  |  |
SALES |  | $ 42,238,151 | $ 42,339,563
COST OF SALES |  | 33,821,114 | 33,961,367
GROSS PROFIT |  | 8,417,037 | 8,378,196
OPERATING EXPENSES |  |  |
Selling, general and administrative |  | 1,814,899 | 1,700,030
Depreciation and amortization |  | 281,762 | 276,340
Wages and employee benefits |  | 3,396,793 | 3,317,228
Total operating expenses |  | 5,493,454 | 5,293,598
Income from operations |  | 2,923,583 | 3,084,598
OTHER ITEMS |  |  |
Gain on sale of property, plant and equipment |  |  | 3,546
Interest and other income |  | 31,993 | 27,086
Total other items |  | 31,993 | 30,632
Income before income taxes |  | 2,955,576 | 3,115,230
Income taxes |  |  |
Current | [1] | 1,208,277 | 1,246,198
Deferred | [1] | (26,672) | 10,579
Net income for the year |  | $ 1,773,971 | $ 1,858,453
Basic earnings per common share |  | $ 0.69 | $ 0.63
Diluted earnings per common share |  | $ 0.69 | $ 0.63
Weighted average number of common shares outstanding: Basic |  | 2,581,850 | 2,968,220
Weighted average number of common shares outstanding: Diluted |  | 2,581,850 | 2,968,220
[1] | Note 6

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