2. Significant Accounting Policies: Earnings Per Share (Policies)

12 Months Ended

Aug. 31, 2021

Policies

Earnings Per Share

Earnings per share

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding in the period. Diluted earnings per common share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive common shares.

2.SIGNIFICANT ACCOUNTING POLICIES (cont’d…) 

Earnings per share (cont’d…)

The earnings per share data for the fiscal years ended August 31, 2021 and 2020 are as follows:

		2021	2020
Net income	$	3,454,953		$	2,784,525
Basic weighted average number of common shares outstanding		3,486,537			3,623,413
Effect of dilutive securities
Stock options		-			-
Diluted weighted average number  of common shares outstanding		3,486,537			3,623,413
Basic and diluted earnings per common share	$	0.99		$	0.77