Income Per Common Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of reconciliation of average shares outstanding

The following table is a summary of the reconciliation of weighted average shares outstanding for the three months ended March 31:

	Three Months Ended March 31,
	2020		2019
Net income	$	1,521,131	$	1,689,264
Weighted average shares outstanding		5,530,256		5,514,413
Effect of dilutive shares		55,366		77,939
Weighted average shares outstanding - diluted		5,585,622		5,592,352
Earnings per share - basic	$	0.28	$	0.31
Earnings per share - diluted	$	0.27	$	0.30