Note 6 - Net Income Per Share Computations

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

6.    NET INCOME PER SHARE COMPUTATIONS

The following is a reconciliation of the numerator and denominator of the net income per common share computations for the years ended December 31, 2021 and 2020.

	Year Ended December 31,
	2021		2020
Net income (numerator) amounts used for basic and diluted per share computations:	$	11,798,153	$	1,062,014
Weighted average shares (denominator) of common stock outstanding:
Basic		4,776,007		4,697,021
Plus dilutive effect of stock options		51,754		770
Diluted		4,827,761		4,697,791
Net income per common share:
Basic	$	2.47	$	0.23
Diluted		2.44		0.23

Options to purchase 9,000 shares of common stock at an average price of $13.30 per share were outstanding but not included in the computation of diluted net income per share for the year ended December 31, 2020 because the exercise price of the options exceeded the market price of the Company’s common stock at December 31, 2020. There were no out-of-the money stock options at December 31, 2021.