SUNRISE RESOURCES, INC. AND SUBSIDIARIES

                         PER SHARE EARNINGS COMPUTATIONS

<TABLE>
<CAPTION>

                                                     Three Months Ended                      Six Months Ended
                                                         September 30,                          September 30,
                                                     ------------------                      -----------------
                                                   1996               1995               1996                1995
                                            ----------------   ----------------    ----------------    ----------------
<S>                                         <C>                 <C>                 <C>                <C> 

Primary Earnings Per Share:

   Weighted average number of
     common shares outstanding                     7,189,000         7,189,000            7,189,000          7,189,000
   Common stock equivalents from
     assumed exercise of options and
     warrants                                         33,000                --               13,000              2,000
                                            ----------------    --------------      ---------------    ---------------

       Total shares                                7,222,000         7,189,000            7,202,000          7,191,000
                                            ================    ==============      ===============    ===============

       Net income                           $        926,000    $      832,000      $     2,019,000    $     1,723,000
                                            ================    ==============      ===============    ===============

       Net income per common and
         common equivalent share            $           0.13    $         0.12      $         0.28     $          0.24
                                            ================    ==============      ==============     ===============


Fully Dilutive Earnings Per Share:

   Weighted average number of
     common shares outstanding                     7,189,000         7,189,000            7,189,000          7,189,000
   Common stock equivalents
     from assumed exercise of
     options and warrants                            33,000                 --              13,000               2,000
                                            ---------------     --------------      --------------     ---------------

       Total shares                                7,222,000         7,189,000            7,202,000          7,191,000
                                            ================    ==============      ===============    ===============

       Net income                           $        926,000    $      832,000      $     2,019,000    $     1,723,000
                                            ================    ==============      ===============    ===============

       Net income per common
         and common equivalent share        $           0.13    $         0.12      $         0.28     $          0.24
                                            ================    ==============      ==============     ===============
</TABLE>


Net income per common and common equivalent share is computed using the weighted
average  number of shares  outstanding  during each  period.  Common  equivalent
shares represent the dilutive effects of outstanding  stock options and warrants
using the treasury stock method and average market prices during the periods.

The  calculation  of fully  dilutive  earnings  per share uses the higher of the
ending market price for the period or the average market price.