Income Per Common Share

3 Months Ended

Jun. 30, 2024

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-month periods ended June 30, 2024 and 2023.

	2024		2023
Net income	$	291,039	$	465,614
Shares outstanding:
Weighted average common shares outstanding – basic		2,090,786		2,136,165
Effect of the assumed exercise of dilutive stock options		44,635		46,635
Weighted average common shares outstanding – dilutive		2,135,421		2,182,800
Income per common share:
Basic	$	0.14	$	0.22
Diluted	$	0.14	$	0.21

For the three months ended June 30, 2024, 61,125 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive. Anti-dilutive stock options have a weighted average exercise price of $15.34 at June 30, 2024. For the three months ended June 30, 2023, 63,000 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive. Anti-dilutive stock options have a weighted average exercise price of $15.32 at June 30, 2023.