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Consolidated Statements of Income - USD ($)
12 Months Ended
May 31, 2024
May 31, 2023
Sales $ 61,780,715 $ 60,758,962
Cost of Sales 50,065,085 51,427,409
Gross Profit 11,715,630 9,331,553
Selling, General and Administrative Expenses 5,168,607 5,100,170
Gain on involuntary conversion (Note 4) (593,647) 0
Operating Income 7,140,670 4,231,383
Other Income (Expense):    
Federal tax credits realized 0 4,911,863
Gain on deconsolidation of variable interest entity 0 569,997
Other income, net 209,079 325,599
Interest expense (1,291,054) (1,189,034)
Income before Income Taxes 6,058,695 8,849,808
Provision for Income Taxes 1,031,204 2,461,700
Net Income 5,027,491 6,388,108
Income Attributable to Non-controlling Interest 0 (49,599)
Preferred Dividends (587,226) (495,681)
Net Income Attributable to Common Stockholders $ 4,440,265 $ 5,842,828
Income Per Share of Common Stock -    
Basic (in dollars per share) $ 0.16 $ 0.21
Diluted (in dollars per share) $ 0.15 $ 0.2
Weighted Average Shares of Common Stock Outstanding -    
Basic (in shares) 28,279,701 28,279,701
Diluted (in shares) 28,774,984 32,105,515