11. Earnings Per Common Share

12 Months Ended

May 31, 2024

Notes

11. Earnings Per Common Share:

11.  Earnings Per Common Share:

Basic earnings per common share is computed by dividing income available to common stockholders by the weighted-average common shares outstanding for the period.  Diluted earnings per common share reflects the weighted-average common shares outstanding and dilutive potential common shares, such as stock options.

A reconciliation of weighted-average common shares outstanding to weighted-average common shares outstanding assuming dilution is as follows:

	2024	2023
Average common shares outstanding	3,353,077	3,506,474
Common shares issuable under stock option plans	135,711	45,020
Average common shares outstanding assuming dilution	3,488,788	3,551,494