XML 33 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Income - USD ($)
12 Months Ended
May 31, 2024
May 31, 2023
Consolidated Statements of Income    
Sales, net (Note 9) [1] $ 44,582,807 $ 40,199,354
Cost of goods sold 23,743,554 23,250,039
Gross profit 20,839,253 16,949,315
Research and development costs 388,476 1,096,807
Selling, general and administrative expenses 10,971,358 9,043,442
Operating income 9,479,419 6,809,066
Other income (expense)    
Interest, net 1,426,584 698,864
Miscellaneous 14,759 (2,572)
Total other income, net 1,441,343 696,292
Income before provision for income taxes 10,920,762 7,505,358
Provision for income taxes (Note 10) [2] 1,922,000 1,218,000
Net income $ 8,998,762 $ 6,287,358
Basic earnings per common share (Note 11) [3] $ 2.68 $ 1.79
Diluted earnings per common share (Note 11) [3] $ 2.58 $ 1.77
[1] Note 9
[2] Note 10Note 10
[3] Note 11Note 11