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

9 Months Ended

May 31, 2018

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. The number of common shares outstanding has been adjusted for a 2 for 1 forward stock split effective May 28, 2018 (Note 8).

The earnings per share data for the three and nine month periods ended May 31, 2018 and 2017 are as follows:

	Three Month Periods ended May 31,		Nine Month Periods ended May 31,
	2018	2017	2018	2017
Net income	$  1,389,209	$  1,206,135	$  2,219,940	$ 2,001,068
Basic weighted average number of  common shares outstanding	4,468,988	4,572,588	4,468,988	4,572,588
Effect of dilutive securities
Stock options	-	-	-	-
Diluted weighted average number of common shares outstanding	4,468,988	4,572,588	4,468,988	4,572,588