| Accumulated Other Comprehensive Income |
| 11. |
Accumulated Other Comprehensive Income: |
|
|
|
The only component of accumulated other comprehensive income is unrealized gain (loss) on available-for-sale securities. |
|
|
|
A summary of the changes in accumulated other comprehensive income for the three and nine months ended April 30, 2018 and 2017 is as follows: |
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
April 30 |
|
April 30 |
|
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
| Beginning balance, net of tax effect |
|
$ |
545,831 |
|
|
$ |
277,770 |
|
|
$ |
368,476 |
|
|
$ |
264,541 |
|
| |
| Other comprehensive income, net of tax effect: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unrealized gain (loss) on available-for-sale securities |
|
|
(144,250 |
) |
|
|
99,910 |
|
|
|
101,932 |
|
|
|
118,785 |
|
| Tax effect |
|
|
27,037 |
|
|
|
(33,500 |
) |
|
|
(43,963 |
) |
|
|
(40,000 |
) |
| Unrealized gain (loss) on available-for-sale securities, net of tax effect |
|
|
(117,213 |
) |
|
|
66,410 |
|
|
|
57,969 |
|
|
|
78,785 |
|
| |
| Amounts reclassified from accumulated other comprehensive income, net of tax effect: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Unrealized (gain) on available-for-sale securities reclassified |
|
|
(25,400 |
) |
|
|
(42,195 |
) |
|
|
(23,420 |
) |
|
|
(40,841 |
) |
| Tax effect |
|
|
7,770 |
|
|
|
14,500 |
|
|
|
7,963 |
|
|
|
14,000 |
|
| Amount reclassified, net of tax effect |
|
|
(17,630 |
) |
|
|
(27,695 |
) |
|
|
(15,457 |
) |
|
|
(26,841 |
) |
| |
| Ending balance, net of tax effect |
|
$ |
410,988 |
|
|
$ |
316,485 |
|
|
$ |
410,988 |
|
|
$ |
316,485 |
|
A summary of the line items in the Condensed Consolidated Statements of Income and Retained Earnings affected by the amounts reclassified from accumulated other comprehensive income is as follows:
| Details about accumulated other |
|
Affected line item in the statement |
|
| comprehensive income components |
|
where net income is presented |
|
|
|
|
|
| Other comprehensive income reclassified |
|
Investment income |
|
| tax effect |
|
Income taxes provided |
|
|