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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Summary of Significant Accounting Policies [Abstract]  
Summary of Property, Plant and Equipment



 

 

 

 

 

 

 

 

 

 

 

 

 



 

As of



 

December 31,

 

December 31,



 

2020

 

2019

Automobiles

 

$

530,722 

 

$

505,788 

Furniture and fixtures

 

 

491,766 

 

 

457,218 

Computer equipment and software

 

 

3,971,272 

 

 

3,823,416 

Home office

 

 

3,946,299 

 

 

3,866,632 

Total cost

 

 

8,940,059 

 

 

8,653,054 

Accumulated depreciation

 

 

(6,079,728)

 

 

(5,619,706)

Net property and equipment

 

$

2,860,331 

 

$

3,033,348 



Accumulated Other Comprehensive Earnings (Loss)



 

 

 

 

 

 

 



 

Year Ended December 31,

 



 

2020

 

2019

 

Beginning balance

 

$

2,953,936 

 

$

(1,580,976)

 

Cumulative effect of adoption of ASU 2016-01

 

 

 -

 

 

1,366,297 

 

Adjusted beginning balance

 

 

2,953,936 

 

 

(214,679)

 

Other comprehensive earnings before reclassification

 

 

3,019,434 

 

 

3,393,585 

 

Amount reclassified from accumulated other comprehensive earnings

 

 

(453,279)

 

 

(224,970)

 

Net current period other comprehensive earnings

 

 

2,566,155 

 

 

3,168,615 

 

Ending balance

 

$

5,520,091 

 

$

2,953,936 

 



Schedule of Reclassifications Out of Accumulated Other Comprehensive Earnings



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Amounts Reclassified from

Accumulated Other Comprehensive Earnings



 

 

 

 

 

 

 

 



 

Twelve-Month Periods Ended

 

 

Details about Accumulated Other

 

December 31,

 

Affected Line Item in the Statement

Comprehensive Earnings Component

 

2020

 

2019

 

where Net Earnings is Presented

Unrealized (gains) on AFS investments:

 

 

 

 

 

 

 

 



 

$

(573,771)

 

$

(284,772)

 

Net realized investment (gains)



 

 

120,492 

 

 

59,802 

 

Income tax expense

Total reclassification adjustment, net of tax

 

$

(453,279)

 

$

(224,970)