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2. Significant Accounting Policies: Earnings Per Share (Policies)

6 Months Ended

Feb. 28, 2015

Earnings per share

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding in the period. Diluted earnings per common share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive common shares.

The earnings per share data for the three and six month periods ended February 28, 2015 and February 28, 2014 are as follows:

	Three Month Period Ended February 28,		Six Month Period Ended February 28,

	2015	2014	2015	2014

Net income	$ 283,560	$ 237,398	$ 611,347	$ 569,977

Basic weighted average number of common shares outstanding	2,585,661	3,129,764	2,637,587	3,132,365

Effect of dilutive securities
Stock options	0	0	0	0

Diluted weighted average number of common shares outstanding	2,585,661	3,129,764	2,637,587	3,132,365

- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

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