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EXHIBIT 11
COMPUTATION OF NET EARNINGS AND SHARES
USED IN ARRIVING AT NET EARNINGS PER SHARE
THREE MONTHS ENDED SEPTEMBER 30, 1997
Primary and Fully Diluted
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Three Months Ended
September 30, 1997
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Earnings:
Net earnings $ 159,292
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Less: Dividends on preferred stock --
Net earnings applicable to common stock $ 159,292
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Computation of weighted number of shares outstanding:
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Shares outstanding on a diluted basis 5,597,606
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