Accumulated Other Comprehensive Income

9 Months Ended

Apr. 30, 2019

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income

11.	Accumulated Other Comprehensive Income:
	The only component of accumulated other comprehensive income is unrealized gain (loss) on marketable securities.
	A summary of the changes in accumulated other comprehensive income for the three and nine months ended April 30, 2019 and 2018 is as follows:

	Three Months Ended					Nine Months Ended
	April 30					April 30
	2019		2018			2019			2018
	(Unaudited)		(Unaudited)			(Unaudited)			(Unaudited)
Beginning balance, net of tax effect	$	–	$	545,831		$	487,136		$	368,476
Other comprehensive income, net of tax effect:
Unrealized gain on marketable securities		–		(144,250	)		–			101,932
Tax effect		–		27,037			–			(43,963	)
Unrealized gain on marketable securities, net of tax effect		–		(117,213	)		–			57,969
Unrealized loss on marketable securities reclassified to retained earnings		–		(25,400	)		(800,136	)		(23,420	)
Tax effect		–		7,770			313,000			7,963
		–		(17,630	)		(487,136	)		(15,457	)
Ending balance, net of tax effect	$	–	$	410,988		$	–		$	410,988

A summary of the line items in the Condensed Consolidated Statements of Income and Retained Earnings affected by the amounts reclassified from accumulated other comprehensive income is as follows:

Details about accumulated other comprehensive income components	Affected line item in the statement where net income is presented
----------------------------------------------------	---------------------------------------------
Other comprehensive income reclassified tax effect	Investment income Income taxes provided