Earnings Per Share (Tables)

9 Months Ended

Jan. 31, 2019

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 January 31, 2019
	Income		Shares		Per-share
	(Numerator)		(Denominator)		Amount
Net Income	$	1,173,000
Basic EPS	$	1,173,000		4,961,018	$	0.2364
Effect of dilutive securities:
Convertible preferred stock		—		20,500
Diluted EPS	$	1,173,000		4,981,518	$	0.2355

	For the nine months ended January 31, 2019
	Income (Numerator)		Shares (Denominator)		Per-share Amount
Net Income	$	2,559,000
Basic EPS	$	2,559,000		4,963,592	$	0.5156
Effect of dilutive securities:
Convertible preferred stock		—		20,500
Diluted EPS	$	2,559,000		4,984,092	$	0.5134

	For the three months ended January 31, 2018
	Income (Numerator)		Shares (Denominator)		Per-share Amount
Net Income	$	791,000
Basic EPS	$	791,000		4,969,013	$	0.1592
Effect of dilutive securities:
Convertible preferred stock		—		20,500
Diluted EPS	$	791,000		4,989,513	$	0.1585

	For the nine months ended January 31, 2018
	Income (Numerator)		Shares (Denominator)		Per-share Amount
Net Income	$	2,032,000
Basic EPS	$	2,032,000		4,955,725	$	0.4100
Effect of dilutive securities:
Convertible preferred stock		—		20,500
Diluted EPS	$	2,032,000		4,976,225	$	0.4083