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Earnings per Share
 6 Months Ended
Feb. 28, 2019
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 4. Earnings per Share
 
The following is a reconciliation of the numerators and denominators of the basic and diluted computations for earnings per common share (in thousands, except per share data):
 
 
 
Three Months Ended

February 28,
 
 
Six Months Ended

February 28,
 
 
 
2019
 
 
2018
 
 
2019
 
 
2018
 
(In thousands, except share and per share amounts)
 
 
 
 
 
 
 
 
 
 
 
 
EPS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
1,961
 
 
$
1,319
 
 
$
3,886
 
 
$
2,514
 
Less:  accrued preferred stock dividends
 
 
(19
)
 
 
(19
)
 
 
(38
)
 
 
(38
)
Net income available for common   shareholders
 
$
1,942
 
 
$
1,300
 
 
$
3,848
 
 
$
2,476
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per common share  – basic and diluted
 
$
0.40
 
 
$
0.27
 
 
$
0.79
 
 
$
0.51
 
 
For the three and six months ended February 28, 2019 and 2018, 40,000 potential common shares (issuable upon conversion of 36,000 shares of the Company’s Series A Cumulative Convertible Preferred Stock) have been excluded from the computation of diluted earnings per share because their inclusion would be anti-dilutive since the conversion price was greater than the average market price of the common stock.