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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
May 31, 2022
May 31, 2021
May 31, 2022
May 31, 2021
Income Statement [Abstract]        
SALES $ 20,922,190 $ 21,619,952 $ 47,900,665 $ 42,396,591
COST OF SALES 15,569,380 16,037,702 36,658,766 31,239,866
GROSS PROFIT 5,352,810 5,582,250 11,241,899 11,156,725
OPERATING EXPENSES        
Selling, general and administrative expenses 1,125,692 966,298 2,798,094 2,556,902
Depreciation and amortization 83,291 69,353 237,001 175,171
Wages and employee benefits 2,124,183 1,908,588 5,957,601 5,226,021
Total Operating Expenses 3,333,166 2,944,239 8,992,696 7,958,094
Income from operations 2,019,644 2,638,011 2,249,203 3,198,631
OTHER ITEMS        
Other income 903 3,000 (294,097) 9,000
Interest expense (47,972) (9,283) (98,868) (9,283)
Gain on extinguishment of debt 687,387 687,387
Total other items (47,069) 681,104 (392,965) 687,104
Income before income taxes 1,972,575 3,319,115 1,856,238 3,885,735
Income tax expense (478,464) (904,638) (483,449) (1,035,896)
Net income $ 1,494,111 $ 2,414,477 $ 1,372,789 $ 2,849,839
Basic earnings per common share $ 0.43 $ 0.69 $ 0.39 $ 0.82
Diluted earnings per common share $ 0.43 $ 0.69 $ 0.39 $ 0.82
Weighted average number of common shares outstanding:        
Basic 3,492,842 3,489,161 3,492,266 3,485,525
Diluted 3,492,842 3,489,161 3,492,266 3,485,525