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2. Significant Accounting Policies: Earnings Per Share (Policies)
 3 Months Ended
Nov. 30, 2017
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 month periods ended November 30, 2017 and 2016 are as follows:

 

 

 

Three Month Periods

ended November 30,

 

 

 

 

 

2017

 

2016

 

 

 

 

Net income

$    322,433

 

$    485,920

 

 

 

 

Basic weighted average number of  common shares outstanding

2,234,494

 

2,286,294

 

 

 

 

Effect of dilutive securities

 

 

 

Stock options

-

 

-

 

 

 

 

Diluted weighted average number  of common shares outstanding

2,234,494

 

2,286,294