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

6 Months Ended

Feb. 28, 2019

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 three and six month periods ended February 28, 2019 and 2018 are as follows:

		Three Month Periods ended February 28,						Six Month Periods ended February 28,
		2019			2018			2019			2018
	Net income	$	119,629		$	508,298		$	469,323		$	830,731
	Basic weighted average number of        common shares outstanding		4,218,348			4,468,988			4,218,672			4,468,988
	Effect of dilutive securities
	Stock options		-			-			-			-
	Diluted weighted average number       of common shares outstanding		4,218,348			4,468,988			4,218,672			4,468,988

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- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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- References

No definition available.

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