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8. EARNINGS PER SHARE
 12 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

We report earnings per share in accordance with ASC 260, “Earnings Per Share.” Basic earnings per share are computed using the weighted average number of shares outstanding during the period. Diluted earnings per share represent basic earnings per share adjusted to include the potentially dilutive effect of outstanding stock options. The weighted average number of shares outstanding used to compute earnings per share is as follows:

 

   Year Ended June 30, 
   2016   2015 
Net income attributable to Parent Company  $1,610,971   $760,008 
Weighted-average shares of common stock outstanding:          
Basic   10,414,755    10,533,869 
Dilutive effect of common stock equivalents arising from stock options   239,142    106,864 
Diluted Outstanding shares   10,653,897    10,640,733 
Basic earnings per share  $0.15   $0.07 
Diluted earnings per share  $0.15   $0.07