EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

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
	March 31,
	2023		2022
Basic and diluted earnings per share:
Net income	$	435,021	$	230,733
Weighted average common shares outstanding		2,867,082		2,855,253
Basic and dilutive net income per share	$	0.15	$	0.08

Diluted earnings per share calculations were not required for the three-month periods ended March 31, 2023 and 2022, as there were no stock options outstanding.