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2. Significant Accounting Policies: Earnings Per Share (Policies)
 6 Months Ended
Feb. 28, 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 earnings per share data for the three and six month periods ended February 28, 2018 and 2017 are as follows:

 

 

Three Month Periods

ended February 28,

 

Six Month Periods

ended February 28,

 

 

 

 

 

 

 

 

 

2018

 

2017

 

2018

 

2017

 

 

 

 

 

 

 

 

Net income

$   508,298

 

$   309,013

 

$   830,731

 

$  794,933

 

 

 

 

 

 

 

 

Basic weighted average number of  common shares outstanding

2,234,494

 

2,286,294

 

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

 

2,234,494

 

2,286,294