Earnings Per Share

12 Months Ended

Jun. 30, 2021

Note 11. Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding under the treasury stock method if all potentially dilutive common shares (such as stock options) issued became vested during the period. There were no anti-dilutive securities or contracts outstanding during the years ended June 30, 2021 and 2020.

	2021		2020
Net Income	$	23,942,000	$	18,727,000
Weighted Average Shares – Basic		8,513,414		8,529,927
Effect of Dilutive Stock Options		-		-
Weighted Average Shares - Dilute		8,513,414		8,529,927

Earnings per share - Basic	$	2.81	$	2.20
Earnings per share - Diluted	$	2.81	$	2.20