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Condensed Consolidated Statements of Income and Shareholders' Equity
USD ($)
$ / shares
Income Statement [Abstract]  
Revenue $ 1,251,000
Expenses:  
Operating 225,000
General and administrative 352,000
Total expenses 577,000
Income from continuing operations before income taxes 674,000
Income tax expense:  
Current 212,000
Deferred (23,000)
Total Income tax expense 189,000
Income from continuing operations 485,000
Net income 485,000
Retained earnings, beginning at Dec. 31, 2022 6,264,000
Income tax expense:  
Dividends on common stock based on 6,599,912 shares outstanding (462,000)
Retained earnings, ending at Mar. 31, 2023 $ 6,287,000
Basic income (loss) per common share based upon 6,599,912 shares outstanding:  
Continuing operations | $ / shares $ 0.07
Total basic income per common share | $ / shares $ 0.07
Revenue $ 1,342,000
Operating 259,000
General and administrative 368,000
Total expenses 627,000
Income from continuing operations before income taxes 715,000
Current 188,000
Deferred (16,000)
Total Income tax expense 172,000
Income from continuing operations 543,000
Loss on sale of discontinued operations, net of tax (Note 9) (55,000)
Net income 488,000
Retained earnings, beginning at Dec. 31, 2023 6,743,000
Income tax expense:  
Dividends on common stock based on 6,599,912 shares outstanding (462,000)
Retained earnings, ending at Mar. 31, 2024 $ 6,769,000
Basic income (loss) per common share based upon 6,599,912 shares outstanding:  
Continuing operations | $ / shares $ 0.08
Discontinued operations | $ / shares (0.01)
Total basic income per common share | $ / shares $ 0.07