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2. Significant Accounting Policies: Earnings Per Share (Policies)
 9 Months Ended
May. 31, 2015
Policies  
Earnings Per Share

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 nine month periods ended May 31, 2015 and May 31, 2014 are as follows:

 

 

 

Three Month Period

Ended May 31,

 

Nine Month Period

Ended May 31,

 

 

 

 

 

 

 

 

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

Net income

$   461,100

 

$  936,329

 

$ 1,072,447

 

$ 1,506,306

 

 

 

 

 

 

 

 

Basic weighted average number of

       common shares outstanding

 

2,561,702

 

 

2,866,273

 

 

2,612,199

 

 

3,042,692

 

 

 

 

 

 

 

 

Effect of dilutive securities

 

 

 

 

 

 

 

Stock options

0

 

0

 

0

 

0

 

 

 

 

 

 

 

 

Diluted weighted average number

      of common shares outstanding

 

2,561,702

 

 

2,866,273

 

 

2,612,199

 

 

3,042,692