9. Earnings Per Common Share

The Company calculates earnings per share using the two-class method in accordance with 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 the 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.



	Year Ended
	September 28, 2019
	Class A		Class B
Numerator: Allocated net income
Net income allocated, basic	$	58,635,758	$	22,944,244
Conversion of Class B to Class A shares		22,944,244		—
Net income allocated, diluted	$	81,580,002	$	22,944,244
Denominator: Weighted average shares outstanding
Weighted average shares outstanding, basic		14,163,776		6,096,000
Conversion of Class B to Class A shares		6,096,000		—
Weighted average shares outstanding, diluted		20,259,776		6,096,000
Earnings per share
Basic	$	4.14	$	3.76
Diluted	$	4.03	$	3.76



	Year Ended				Year Ended
	September 29, 2018				September 30, 2017
	Class A		Class B		Class A		Class B
Numerator: Allocated net income
Net income allocated, basic	$	69,790,716	$	27,573,912	$	38,393,384	$	15,480,196
Conversion of Class B to Class A shares		27,573,912		—		15,480,196		—
Net income allocated, diluted	$	97,364,628	$	27,573,912	$	53,873,580	$	15,480,196
Denominator: Weighted average shares outstanding
Weighted average shares outstanding, basic		14,123,182		6,136,594		14,039,125		6,220,651
Conversion of Class B to Class A shares		6,136,594		—		6,220,651		—
Weighted average shares outstanding, diluted		20,259,776		6,136,594		20,259,776		6,220,651
Earnings per share
Basic	$	4.94	$	4.49	$	2.74	$	2.49
Diluted	$	4.81	$	4.49	$	2.66	$	2.49