Income Per Common Share

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Income Per Common Share

Note 5: Income Per Common Share

Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings 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. 

	Three Months Ended
	September 30,
	2016		2015
Numerator:
Net Income	$	1,426,338	$	1,198,919
Denominator:
Weighted average shares outstanding		4,931,185		4,915,610
Effect of dilutive shares		123,538		146,075
Weighted average shares outstanding-diluted		5,054,723		5,061,685
Earnings per share
Basic	$	0.29	$	0.24
Diluted	$	0.28	$	0.24

	Nine Months Ended
	September 30,
	2016		2015
Numerator:
Net Income	$	3,934,183	$	3,657,316
Denominator:
Weighted average shares outstanding		4,929,977		4,911,142
Effect of dilutive shares		128,860		151,553
Weighted average shares outstanding-diluted		5,058,837		5,062,695
Earnings per share
Basic	$	0.80	$	0.74
Diluted	$	0.78	$	0.72