INCOME PER COMMON SHARE

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

INCOME PER COMMON SHARE

17. Income Per Common Share

Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted income per share is computed by dividing net income by the weighted-average number of common shares and potential common shares outstanding. Potential common shares consist of dilutive stock options determined using the treasury stock method and the average market price of common stock.

The following table is a summary of the reconciliation of average shares outstanding for the years ended December 31:

	2015		2014		2013
Numerator:
Net income	$	4,884,288	$	4,398,820	$	4,076,924
Denominator:
Weighted average shares outstanding		4,912,499		4,907,208		4,897,902
Effect of dilutive shares		154,586		125,003		8,332
Weighted average shares outstanding-diluted		5,067,085		5,032,211		4,906,234
Earnings per share -basic	$	0.99	$	0.90	$	0.83
Earnings per share - diluted	$	0.96	$	0.87	$	0.83