Earnings Per Share (Tables)

12 Months Ended

Apr. 30, 2017

Earnings Per Share of Common Stock

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share, assuming convertible preferred stock was converted for each period presented are:

	April 30, 2017
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	2,401,000
Basic EPS	$	2,401,000		4,984,013	$	.4817
Effect of dilutive Convertible Preferred Stock		–		20,500		(.0019	)
Diluted EPS	$	2,401,000		5,004,513	$	.4798

	April 30, 2016
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	3,086,000
Basic EPS	$	3,086,000		5,024,428	$	.6142
Effect of dilutive Convertible Preferred Stock		–		20,500		(.0025	)
Diluted EPS	$	3,086,000		5,044,928	$	.6117