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

12 Months Ended

Aug. 31, 2016

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 fiscal years ended August 31, 2016 and 2015 are as follows:

	2016	2015
Net income	$   2,125,099	$   1,773,971
Basic weighted average number of common shares outstanding	2,435,650	2,581,850
Effect of dilutive securities
Stock options		-
Diluted weighted average number of common shares outstanding	2,435,650	2,581,850
Basic and diluted earnings per common share	$             0.87	$            0.69