EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE

EARNINGS PER 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				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Basic and diluted earnings per share:
Net income	$	309,532	$	479,657	$	540,264	$	1,073,650
Weighted average common shares outstanding		2,857,616		2,847,191		2,856,441		2,845,493
Basic and dilutive net income per share	$	0.11	$	0.17	$	0.19	$	0.38

Diluted earnings per share calculations were not required for the three- and six-month periods ended June 30, 2022 and 2021, as there were no stock options outstanding.