Earnings per Share (Tables)

9 Months Ended

Jan. 31, 2022

Income 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:

	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