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Calculation of Earnings Per Share (Tables) | 6 Months Ended
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Nov. 27, 2021
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The earnings per share (“EPS”) presented in our unaudited consolidated statements of comprehensive income were based on the following amounts (in thousands, except per share amounts):
|  | Three Months Ended |
|  | November 27, 2021 |  |  | November 28, 2020 |
|  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Numerator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 4,122 |  |  | $ | 4,122 |  |  | $ | 689 |  |  | $ | 689 |
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 679 |  |  |  | 679 |  |  |  | 666 |  |  |  | 666 |
Class B common stock |  |  | 113 |  |  |  | 113 |  |  |  | 114 |  |  |  | 114 |
Undistributed earnings (loss) |  | $ | 3,330 |  |  | $ | 3,330 |  |  | $ | (91 | ) |  | $ | (91 | )
Common stock undistributed earnings (loss) |  | $ | 2,852 |  |  | $ | 2,867 |  |  | $ | (78 | ) |  | $ | (78 | )
Class B common stock undistributed earnings (loss) |  |  | 478 |  |  |  | 463 |  |  |  | (13 | ) |  |  | (13 | )
Total undistributed earnings (loss) |  | $ | 3,330 |  |  | $ | 3,330 |  |  | $ | (91 | ) |  | $ | (91 | )
Denominator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock weighted average shares |  |  | 11,270 |  |  |  | 11,270 |  |  |  | 11,111 |  |  |  | 11,111 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilutive stock options |  |  |  |  |  |  | 427 |  |  |  |  |  |  |  | 17 |
Denominator for diluted EPS adjusted for weighted average shares and assumed conversion |  |  |  |  |  |  | 11,697 |  |  |  |  |  |  |  | 11,128 |
Class B commons stock weighted average shares and shares under if-converted method for diluted EPS |  |  | 2,097 |  |  |  | 2,097 |  |  |  | 2,097 |  |  |  | 2,097 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 0.31 |  |  | $ | 0.30 |  |  | $ | 0.05 |  |  | $ | 0.05 |
Class B common stock |  | $ | 0.28 |  |  | $ | 0.27 |  |  | $ | 0.05 |  |  | $ | 0.05 |
Note: There were no common stock options that were antidilutive in the second quarter of fiscal 2022 and fiscal 2021.
|  | Six Months Ended |
|  | November 27, 2021 |  |  | November 28, 2020 |
|  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Numerator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 6,757 |  |  | $ | 6,757 |  |  | $ | (458 | ) |  | $ | (458 | )
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 1,352 |  |  |  | 1,352 |  |  |  | 1,333 |  |  |  | 1,333 |
Class B common stock |  |  | 226 |  |  |  | 226 |  |  |  | 227 |  |  |  | 227 |
Undistributed earnings (loss) |  | $ | 5,179 |  |  | $ | 5,179 |  |  | $ | (2,018 | ) |  | $ | (2,018 | )
Common stock undistributed earnings (loss) |  | $ | 4,434 |  |  | $ | 4,453 |  |  | $ | (1,725 | ) |  | $ | (1,725 | )
Class B common stock undistributed earnings (loss) |  |  | 745 |  |  |  | 726 |  |  |  | (293 | ) |  |  | (293 | )
Total undistributed earnings (loss) |  | $ | 5,179 |  |  | $ | 5,179 |  |  | $ | (2,018 | ) |  | $ | (2,018 | )
Denominator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock weighted average shares |  |  | 11,232 |  |  |  | 11,232 |  |  |  | 11,090 |  |  |  | 11,090 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilutive stock options |  |  |  |  |  |  | 336 |  |  |  |  |  |  |  | — |
Denominator for diluted EPS adjusted for weighted average shares and assumed conversion |  |  |  |  |  |  | 11,568 |  |  |  |  |  |  |  | 11,090 |
Class B commons stock weighted average shares and shares unde if-converted method for diluted EPS |  |  | 2,097 |  |  |  | 2,097 |  |  |  | 2,097 |  |  |  | 2,097 |
Net income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 0.52 |  |  | $ | 0.50 |  |  | $ | (0.04 | ) |  | $ | (0.04 | )
Class B common stock |  | $ | 0.46 |  |  | $ | 0.45 |  |  | $ | (0.03 | ) |  | $ | (0.03 | )
Note: There were no common stock options that were antidilutive in the first six month of fiscal 2022. Common stock options that were anti-dilutive and not included in the diluted earnings per common share for the first six months of fiscal 2021 were 1,600.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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