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EXCEL - IDEA: XBRL DOCUMENT - GOLDEN ENTERPRISES INCFinancial_Report.xls
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v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
6 Months Ended
Nov. 30, 2012
Dec. 02, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Cash received from customers $ 68,478,390 $ 66,376,636
Miscellaneous income 43,633 65,843
Cash paid to suppliers and employees (34,788,027) (34,002,689)
Cash paid for operating expenses (31,336,262) (30,003,516)
Income taxes paid (249,014) (268,989)
Interest expenses paid (116,251) (148,563)
Net cash provided by operating activities 2,032,469 2,018,722
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment (1,328,125) (2,564,251)
Proceeds from sale of property, plant and equipment 65,119 128,560
Net cash used in investing activities (1,263,006) (2,435,691)
CASH FLOWS FROM FINANCING ACTIVITIES    
Debt proceeds 19,738,588 18,403,341
Debt repayments (20,594,623) (18,973,556)
Change in checks outstanding in excess of bank balances (218,974) 638,747
Cash dividends paid (733,416) (733,416)
Purchase of treasury shares (6,860)  
Net cash used in financing activities (1,815,285) (664,884)
Net change in cash and cash equivalents (1,045,822) (1,081,853)
Cash and cash equivalents at beginning of period 1,893,816 2,721,638
Cash and cash equivalents at end of period 847,994 1,639,785
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES    
Net Income 1,112,393 1,151,656
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,650,821 1,670,752
Gain on sale of property and equipment (50,409) (92,385)
Changes in operating assets and liabilities:    
Change in receivables - net 586,315 (99,217)
Change in inventories (675,011) (1,003,494)
Change in prepaid expenses (725,055) (684,300)
Change in other assets 197,782 232,587
Change in accounts payable (678,346) 350,247
Change in accrued expenses (39,490) 117,144
Change in salary continuation (54,418) (50,422)
Change in accrued income taxes 707,887 426,154
Net cash provided by operating activities $ 2,032,469 $ 2,018,722