| Schedule of earnings per share |
Basic earnings per share is calculated using the average number of common shares outstanding. Diluted income per share is computed on the basis of the average number of common shares outstanding plus the effect of outstanding stock options and warrants using the “treasury stock method”.
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Three Months Ended |
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Nine Months Ended |
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August 31, 2017 |
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August 31, 2016 |
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August 31, 2017 |
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August 31, 2016 |
Net income available for common shareholders |
$ |
377,683 |
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$ |
321,367 |
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$ |
1,262,984 |
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$ |
948,419 |
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Weighted average common shares outstanding-Basic |
7,006,684 |
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7,006,684 |
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7,006,684 |
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7,006,684 |
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Net effect of dilutive stock options and warrants |
158,343 |
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41,327 |
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— |
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68,209 |
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Weighted average common shares and common shares equivalents—Diluted |
7,165,027 |
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7,048,011 |
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7,006,684 |
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7,074,893 |
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Earnings per Share: |
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Basic |
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Continuing Operations |
$ |
0.05 |
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$ |
0.05 |
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$ |
0.18 |
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$ |
0.14 |
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Discontinued Operations |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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Income |
$ |
0.05 |
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$ |
0.05 |
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$ |
0.18 |
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$ |
0.14 |
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Diluted |
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Continuing Operations |
$ |
0.05 |
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$ |
0.05 |
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$ |
0.18 |
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$ |
0.14 |
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Discontinued Operations |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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Income |
$ |
0.05 |
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$ |
0.05 |
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$ |
0.18 |
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$ |
0.14 |
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