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Consolidated Statements of Income - USD ($)
12 Months Ended
May 31, 2023
May 31, 2022
Consolidated Statements of Income    
Sales, net (Note 9) [1] $ 40,199,354 $ 30,866,582
Cost of goods sold 24,133,312 21,239,886
Gross profit 16,066,042 9,626,696
Research and development costs 1,096,807 999,184
Selling, general and administrative expenses 8,160,169 6,154,735
Operating income 6,809,066 2,472,777
Other income (expense)    
Interest, net 698,864 4,543
Miscellaneous (2,572) 79,103
Total other income, net 696,292 83,646
Income before provision for income taxes 7,505,358 2,556,423
Provision for income taxes (Note 10) [2] 1,218,000 317,000
Net income $ 6,287,358 $ 2,239,423
Basic earnings per common share (Note 11) [3] $ 1.79 $ 0.64
Diluted earnings per common share (Note 11) [3] $ 1.77 $ 0.64
[1] Note 9
[2] Note 10Note 10
[3] Note 11Note 11