H. EARNINGS PER COMMON SHARE

The Company has two classes of common stock: Class A which is publicly traded, and Class B, which has no public market. The Class B Common Stock has restrictions on transfer; however, each share is convertible into one share of Class A Common Stock at any time. Each share of Class A Common Stock has one vote per share and each share of Class B Common Stock has ten votes per share. Each share of Class A Common Stock is entitled to receive cash dividends equal to 110% of any cash dividend paid on Class B Common Stock.

The Company calculates earnings per share using the two-class method in accordance with FASB Accounting Standards Codification ("FASB ASC”) Topic 260.

The two-class method of computing basic earnings per share for each period reflects the cash dividends paid per share for each class of stock, plus the amount of allocated undistributed earnings per share computed using the participation percentage which reflects the dividend rights of each class of stock. Diluted earnings per share is calculated assuming conversion of all shares of Class B Common Stock to shares of Class A Common Stock on a share-for-share basis. The tables below reconcile the numerators and denominators of basic and diluted earnings per share for current and prior periods.



	Three Months Ended				Nine Months Ended
	June 30, 2018				June 30, 2018
	Class A		Class B		Class A		Class B
Numerator: Allocated net income
Net income allocated, basic	$	17,557,024	$	6,926,634	$	56,551,833	$	22,373,352
Conversion of Class B to Class A shares		6,926,634		—		22,373,352		—
Net income allocated, diluted	$	24,483,658	$	6,926,634	$	78,925,185	$	22,373,352

Denominator: Weighted average shares outstanding
Weighted average shares outstanding, basic		14,128,772		6,131,004		14,117,449		6,142,327
Conversion of Class B to Class A shares		6,131,004		—		6,142,327		—
Weighted average shares outstanding, diluted		20,259,776		6,131,004		20,259,776		6,142,327

Earnings per share
Basic	$	1.24	$	1.13	$	4.00	$	3.64
Diluted	$	1.21	$	1.13	$	3.90	$	3.64

The per share amounts for the third quarter of fiscal 2017 and the nine months ended June 24, 2017 are based on the following amounts:



	Three Months Ended				Nine Months Ended
	June 24, 2017				June 24, 2017
	Class A		Class B		Class A		Class B
Numerator: Allocated net income
Net income allocated, basic	$	8,234,965	$	3,291,741	$	24,563,248	$	9,938,790
Conversion of Class B to Class A shares		3,291,741		—		9,938,790		—
Net income allocated, diluted	$	11,526,706	$	3,291,741	$	34,502,038	$	9,938,790

Denominator: Weighted average shares outstanding
Weighted average shares outstanding, basic		14,072,598		6,187,178		14,025,733		6,234,043
Conversion of Class B to Class A shares		6,187,178		—		6,234,043		—
Weighted average shares outstanding, diluted		20,259,776		6,187,178		20,259,776		6,234,043

Earnings per share
Basic	$	0.58	$	0.53	$	1.75	$	1.59
Diluted	$	0.57	$	0.53	$	1.70	$	1.59