September 30,
2002
$

March 31, 2002
$

(unaudited)

 (audited)

ASSETS

Current

Cash and cash equivalents

649,564

1,016,158

Accounts receivable

2,438,514

2,116,325

Inventories

3,450,863

2,896,052

Prepaid expenses and other

542,836

417,445

Investments

7,817

46,365

7,089,594

6,492,345

Capital assets [note 1]

27,925,420

25,872,488

Long-term investment [note 1]

-

227,222

Deferred charges

229,261

216,806

Goodwill [notes 1 and 2]

727,218

251,830

35,971,493

33,060,691

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current

Bank indebtedness

741,150

1,857,882

Accounts payable and accrued liabilities

1,825,953

1,334,322

Income tax payable

972,224

468,894

Current portion of long-term debt

1,696,784

1,696,784

5,236,111

5,357,882

Long-term debt

1,450,501

1,502,275

Future income taxes

4,711,235

4,416,400

11,397,847

11,276,557

Shareholders’ equity

Share capital [note 3]

14,194,688

13,131,991

Retained earnings

10,378,958

8,652,143

24,573,646

21,784,134

35,971,493

33,060,691