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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2013
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
7.EARNINGS PER SHARE

Basic earnings per share are computed based on the weighted average number of shares of common stock outstanding during the year.  Diluted earnings per share take common stock equivalents (such as options and warrants) into consideration using the treasury stock method.  The Company distributed warrants as a dividend to stockholders as of the record date, March 23, 2012.  The dilutive effect of the warrants for the twelve months ended December 31, 2013 and 2012 is presented below.

 
 
December 31,
 
 
 
2013
  
2012
 
 
 
  
 
Net income
 
$
1,278,997
  
$
2,112,263
 
 
        
Weighted average common stock outstanding
  
8,062,167
   
8,006,959
 
Weighted average dilutive effect of stock warrants
  
323,086
   
445,470
 
Dilutive weighted average shares
  
8,385,253
   
8,452,429
 
 
        
Earnings per share:
        
Basic 
$
0.16
  
$
0.26
 
Diluted
 
$
0.15
  
$
0.25