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

6 Months Ended

Feb. 28, 2021

Policies

Earnings Per Share

Earnings per share

Basic earnings per common share is computed by dividing net income or loss 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 (loss) earnings per share data for the three and six month periods ended February 28, 2021 and February 29, 2020 are as follows:

	Three Month Periods at the end of February,						Six Month Periods at the end of February,
	2021			2020			2021			2020
Net (loss) income	$	(53,164)		$	(174,262)		$	435,363		$	(180,884)
Basic weighted average number of common shares outstanding		3,486,495			3,562,630			3,483,814			3,811,956
Effect of dilutive securities
Stock options		-			-			-			-
Diluted weighted average number of common shares outstanding		3,486,495			3,562,630			3,483,814			3,811,956

The Company has no items of other comprehensive income in any period presented.  Therefore, net income presented in the consolidated statements of operations equals comprehensive income.

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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 235
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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- References

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