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EARNINGS PER SHARE | 12 Months Ended
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Sep. 30, 2020
EARNINGS PER SHARE |
EARNINGS PER SHARE | 3. EARNINGS PER SHARE: Basic earnings per share available to common shareholders is calculated by dividing net income by the weighted average common shares outstanding for each period. Diluted earnings per share available to common shareholders is calculated by dividing income from operations by the sum of the weighted average common shares outstanding and the weighted average dilutive equity awards.
|  | For Fiscal Years
|  | 2020 |  | 2019
|  | Basic |  | Basic
Weighted average common shares outstanding |  |  | 561,166 |  |  | 597,961
Net income available to common shareholders |  | $ | 5,542,590 |  | $ | 3,202,943
Net earnings per share available to common shareholders |  | $ | 9.88 |  | $ | 5.36
|  | For Fiscal Years
|  | 2020 |  | 2019
|  | Diluted |  | Diluted
Weighted average common shares outstanding |  |  | 561,166 |  |  | 597,961
Weighted average of net additional shares outstanding assuming dilutive options exercised and proceeds used to purchase treasury stock and conversion of preferred stock(1) |  |  | 6,795 |  |  | 11,875
Weighted average number of shares outstanding |  |  | 567,961 |  |  | 609,836
Net income available to common shareholders |  | $ | 5,542,590 |  | $ | 3,202,943
Net earnings per share available to common shareholders |  | $ | 9.76 |  | $ | 5.25
| (1) |  | Diluted earnings per share calculation includes all stock options and restricted stock units deemed to be dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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