Earnings Per Share (Tables)

3 Months Ended

Jul. 31, 2017

Earnings Per Share [Abstract]

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:

	For the three months ended July 31, 2017
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	518,000
Basic EPS	$	518,000		4,945,092	$	.1048
Effect of dilutive Convertible Preferred Stock		-		20,500		(.0005	)
Diluted EPS	$	518,000		4,965,592	$	.1043

	For the three months ended July 31, 2016
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	567,000
Basic EPS	$	567,000		5,021,727	$	.1129
Effect of dilutive Convertible Preferred Stock		–		20,500		(.0004	)
Diluted EPS	$	567,000		5,042,227	$	.1125