For the Year Ended December 31,

2022

2021

Net income

$

2,057,723

$

3,281,251

Earnings and dividends allocated to participating securities

(23,567

)

(22,063

)

Net income attributable to common stockholders

$

2,034,156

$

3,259,188

Weighted average common shares outstanding:

Average number of common shares outstanding - basic

10,845,884

9,973,113

Net effect of dilutive unvested restricted stock awards included for treasury stock method

54,157

30,948

Average number of common shares outstanding - diluted

10,900,041

10,004,061

Earnings per common share

Basic

$

0.19

$

0.33

Diluted

$

0.19

$

0.33