Earnings Per Share (Tables)

3 Months Ended

Jul. 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 July 31, 2019
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	866,000
Basic EPS	$	866,000		4,956,389	$	.1747
Effect of dilutive Convertible Preferred Stock		–		20,500		(.0007	)
Diluted EPS	$	866,000		4,976,889	$	.1740

	For the three months ended July 31, 2018
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	617,000
Basic EPS	$	617,000		4,967,580	$	.1242
Effect of dilutive Convertible Preferred Stock		–		20,500		(.0005	)
Diluted EPS	$	617,000		4,988,080	$	.1237