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2. Significant Accounting Policies: Earnings Per Share (Policies)
 12 Months Ended
Aug. 31, 2018
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 number of common shares outstanding has been adjusted for a 2 for 1 forward stock split effective May 29, 2018 (Note 8).

 

The earnings per share data for the fiscal years ended August 31, 2018 and 2017 are as follows:

 

 

 

 

2018

2017

 

 

 

 

 

 

Net income

$

2,920,639

 

$

2,726,657

 

 

 

 

 

 

Basic weighted average number of common shares outstanding

 

4,430,940

 

 

4,545,044

 

 

 

 

 

 

Effect of dilutive securities

 

 

 

 

 

Stock options

 

-

 

 

-

 

 

 

 

 

 

Diluted weighted average number of common shares outstanding

 

4,430,940

 

 

4,545,044

 

 

 

 

 

 

Basic and diluted earnings per common share

$

0.66

 

$

0.60