BASIC AND DILUTED EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

BASIC AND DILUTED EARNINGS PER SHARE

11. BASIC AND DILUTED EARNINGS PER SHARE

Basic and diluted earnings per share for the year ended December 31, 2013 were computed as presented in the table below.

	For the year ended
Basic:	December 31, 2013
Net income	$	15,175,987
Weighted average shares outstanding		1,004,599
Basic earnings per share	$	15.11

	For the year ended
Diluted:	December 31, 2013
Net income	$	15,175,987
Weighted average shares outstanding		1,004,599
Plus incremental shares from assumed conversion		1,468
Diluted weighted average common shares		1,006,067
Diluted earnings per share	$	15.08

There was no difference between basic and diluted weighted average common shares for the year ended December 31, 2012.