Earnings per Share

9 Months Ended

Jan. 31, 2022

Income Per Share of Common Stock

Earnings per Share

Note 5: 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, 2022
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	161,000
Basic EPS	$	161,000		4,943,985	$	.03
Effect of dilutive Convertible Preferred Stock		–		20,500		—
Diluted EPS	$	161,000		4,964,485	$	.03

	For the three months ended January 31, 2021
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	4,447,000
Basic EPS	$	4,447,000		4,948,224	$	.90
Effect of dilutive Convertible Preferred Stock		–		20,500		—
Diluted EPS	$	4,447,000		4,968,724	$	.89

	For the nine months ended January 31, 2022
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	3,595,000
Basic EPS	$	3,595,000		4,945,192	$	.73
Effect of dilutive Convertible Preferred Stock		–		20,500		—
Diluted EPS	$	3,595,000		4,965,692	$	.72

	For the nine months ended January 31, 2021
	Income		Shares		Per-Share
	(Numerator)		(Denominator)		Amount
Net income	$	7,799,000
Basic EPS	$	7,799,000		4,949,351	$	1.58
Effect of dilutive Convertible Preferred Stock		–		20,500		—
Diluted EPS	$	7,799,000		4,969,851	$	1.57