EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2020

Earnings Per Common Share

Earnings Per Common Share

NOTE 3 – EARNINGS PER SHARE

Basic earnings per common share (“EPS”) is computed by dividing net income available to common shareholders by the weighted average common shares outstanding during the period.  Diluted EPS is computed by dividing net income available to common shareholders by the weighted average common shares outstanding, plus the effect of common stock equivalents (for example, stock options computed using the treasury stock method).

	Three Months Ended
	March 31,
	2020		2019
Basic and diluted earnings per share:
Net income	$	268,384	$	135,025
Weighted average common shares outstanding		2,829,375		2,816,518
Basic and dilutive net income per share	$	0.09	$	0.05

Diluted earnings per share calculations were not required for the three-month period ended March 31, 2020 and 2019, as there were no stock options outstanding.