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Note 7: Earnings Per Share | 6 Months Ended
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Dec. 31, 2013
Notes |
Note 7: Earnings Per Share | Note 7: Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share:
| Three months ended | Six months ended
| December 31, | December 31
| 2013 | 2012 | 2013 | 2012
Net income | $2,518,828 | $2,480,920 | $5,081,908 | $5,071,174
Charge for early redemption of preferred stock issued at discount | - | - | - | -
Dividend payable on preferred stock | 50,000 | 50,000 | 100,000 | 245,115
Net income available to common shareholders | $2,468,828 | $2,430,920 | $4,981,908 | $4,826,059
Average Common shares – outstanding basic | 3,296,805 | 3,289,309 | 3,295,924 | 3,288,839
Stock options under treasury stock method | 104,759 | 94,241 | 98,567 | 92,865
Average Common shares – outstanding diluted | 3,401,564 | 3,383,550 | 3,394,491 | 3,381,704
Basic earnings per common share | $0.75 | $0.74 | $1.51 | $1.47
Diluted earnings per common share | $0.73 | $0.72 | $1.47 | $1.43
At December 31, 2013 and 2012, no options outstanding had an exercise price exceeding the market price.

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