Income Per Common Share

6 Months Ended

Sep. 30, 2022

Income per common share:

Income Per Common Share

9. Income Per Common Share

The following is a reconciliation of the number of shares used in the calculation of basic and diluted net income per share for the three and six month periods ended September 30, 2022 and 2021.

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Net income	$	1,211,716	$	708,828	$	2,510,388	$	1,103,834
Shares outstanding:
Weighted avg. shares outstanding – basic		2,149,416		2,091,417		2,149,416		2,084,127
Effect of assumed exercise of dilutive stock options		69,095		52,326		68,211		47,762
Weighted avg. shares outstanding – dilutive		2,218,511		2,143,743		2,217,627		2,131,889
Income per common share:
Basic	$	0.56	$	0.34	$	1.17	$	0.53
Diluted	$	0.55	$	0.33	$	1.13	$	0.52

For the three and six months ended September 30, 2022 and 2021, 31,000 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive.