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Earnings Per Share | 3 Months Ended
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Dec. 31, 2020
Earnings Per Share [Abstract] |
Earnings Per Share |
Note 9: | Earnings Per Share
Net earnings per share is calculated using the weighted average number of shares of common stock outstanding during the applicable period. Diluted net earnings per share is computed using the weighted average number of common shares outstanding and if dilutive, potential common shares outstanding during the period. Potential shares of common stock consist of the additional shares of common stock issuable in respect of restricted share awards, stock options and convertible preferred stock. Preferred stock dividends are subtracted from net earnings to determine the amount available to common stockholders. The following table presents the computation of basic and diluted net earnings per share:
|  | Three Months Ended December 31, |
|  | 2020 |  |  | 2019 |
Basic |  |  |  |  |  |  |  |
Net income |  | $ | 5,413 |  |  | $ | 547 |
|  |  | — |  |  |  | — |
Net income applicable to common stock |  | $ | 5,413 |  |  | $ | 547 |
Weighted average common shares outstanding |  |  | 1,568,213 |  |  |  | 1,806,746 |
Basic income per share |  | $ | 3.45 |  |  | $ | 0.30 |
Diluted |  |  |  |  |  |  |  |
Net income applicable to common stock |  | $ | 5,413 |  |  | $ | 547 |
Add: preferred stock dividends |  |  | — |  |  |  | — |
Net income applicable for diluted earnings per share |  | $ | 5,413 |  |  | $ | 547 |
Weighted average common shares outstanding |  |  | 1,568,213 |  |  |  | 1,806,746 |
Add: Options |  |  | 41,668 |  |  |  | 25,000 |
Add: Series B Preferred Stock |  |  | 1,071,220 |  |  |  | 1,071,220 |
Add: Series B Preferred Stock Warrants |  |  | 590,147 |  |  |  | 590,147 |
Add: Series E Preferred Stock |  |  | 47,480 |  |  |  | 47,840 |
Assumed weighted average common shares outstanding |  |  | 3,318,728 |  |  |  | 3,540,953 |
Diluted income per share |  | $ | 1.63 |  |  | $ | 0.15 |
There are 77,500 and 175,418 common stock options that are anti-dilutive that are not included in the three months ended December 31, 2020 and 2019, diluted earnings per share computations, respectively.

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