Note 6 - Comprehensive Income

9 Months Ended

Jan. 31, 2020

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note

6

- Comprehensive Income:

The FASB's ASC Comprehensive Income topic requires the reporting of comprehensive income in addition to net income from operations.  Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that otherwise would

not

be recognized in the calculation of net income.

As of

January 31, 2020

and

January 31, 2019,

the Company held equity securities consisting primarily of ETFs with high relative dividend yields that are classified as securities available-for-sale on the Consolidated Condensed Balance Sheets.  As of

January 31, 2020

and

January 31, 2019,

the Company also had fixed income securities consisting of certificates of deposits and securities issued by federal, state and local governments within the United States that are classified as securities available-for-sale on the Consolidated Condensed Balance Sheets.  The change in valuation of these securities, net of deferred income taxes, has been recorded in accumulated other comprehensive income in the Company's Consolidated Condensed Balance Sheets.

The components of comprehensive income included in the Consolidated  Condensed Statements of Income and Changes in Shareholders' Equity for the

nine

months ended

January 31, 2020

are as follows:

($ in thousands)	Amount Before Tax		Tax Expense			Amount Net of Tax
Change in unrealized gains on securities	$	592	$	(260	)	$	332
	$	592	$	(260	)	$	332

The components of comprehensive income included in the Consolidated  Condensed Statements of Income and Changes in Shareholders' Equity for the

nine

months ended

January 31, 2019

are as follows:

($ in thousands)	Amount Before Tax		Tax Expense			Amount Net of Tax
Change in unrealized gains on securities	$	438	$	(93	)	$	345
	$	438	$	(93	)	$	345