|
Year
ended March 31,
|
|||||||||
|
2010
|
2009
|
2008
|
|||||||
|
Earnings:
|
|||||||||
|
Income
before income taxes
|
$
7,441,411
|
$
16,129,286
|
$
31,206,982
|
||||||
|
Add:
Fixed charges
|
4,604,446
|
4,553,914
|
3,218,141
|
||||||
|
Add:
Amortization of capitalized interest
|
191,523
|
185,554
|
68,123
|
||||||
|
Less:
Interest capitalized
|
-
|
(3,415,040)
|
(3,218,141)
|
||||||
|
Total
earnings
|
12,237,380
|
17,453,714
|
31,275,105
|
||||||
|
Fixed
charges:
|
|||||||||
|
Interest
expensed and capitalized
|
3,000,000
|
3,000,000
|
2,141,667
|
||||||
|
Amortized
premiums, discounts, & bond costs
|
1,604,446
|
1,553,914
|
1,076,474
|
||||||
|
Total
fixed charges
|
4,604,446
|
4,553,914
|
3,218,141
|
||||||
|
Ratio
of earnings to fixed charges
|
2.66
|
3.83
|
9.72
|
||||||