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

9 Months Ended

May 31, 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 earnings per share data for the three and nine month periods ended May 31, 2021 and 2020 are as follows:

	Three Month Periods ended May 31,				Nine Month Periods ended May 31,
	2021		2020		2021		2020
Net income	$	2,414,477	$	1,396,973	$	2,849,839	$	1,216,089
Basic weighted average number of common shares outstanding		3,489,161		3,481,162		3,485,525		3,672,858
Effect of dilutive securities
Stock options		-		-		-		-
Diluted weighted average number of common shares outstanding		3,489,161		3,481,162		3,485,525		3,672,858

2.SIGNIFICANT ACCOUNTING POLICIES (cont’d…) 

Earnings per share (cont’d…)

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.