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EARNINGS PER SHARE | 12 Months Ended
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Aug. 31, 2021
EARNINGS PER SHARE [Abstract] |
EARNINGS PER SHARE | NOTE 15 – EARNINGS PER SHARE Certain outstanding options are excluded from the diluted earnings per share calculation because they are anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease earnings per share). No options were excluded for the fiscal year ended August 31, 2021. The excluded options totaled 50,000 for the fiscal year ended August 31, 2020.
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | August 31, | ​ | August 31,
​ |  | 2021 |  | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 20,110 | ​ | $ | 6,750
Basic weighted average common shares | ​ | ​ | 23,890,792 | ​ | ​ | 23,845,015
Effect of dilutive securities | ​ | ​ | 220,126 | ​ | ​ | 216,597
Weighted average shares applicable to diluted earnings per share | ​ | ​ | 24,110,918 | ​ | ​ | 24,061,612
Earnings per share - basic | ​ | $ | 0.84 | ​ | $ | 0.28
Earnings per share - diluted | ​ | $ | 0.83 | ​ | $ | 0.28
​

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