EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2017

NOTE 2 - EARNINGS PER SHARE

Basic earnings per share of common stock are computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share are calculated by including the average dilutive common stock equivalents outstanding during the periods. Dilutive common equivalent shares consist of stock options, calculated using the treasury stock method.

	Three Months Ended
	March 31,
	2017		2016
Basic and diluted:
Net income	$	316,000	$	283,000
Weighted average common shares outstanding		2,789,012		2,775,560
Basic and dilutive net income per share	$	0.11	$	0.10

Diluted earnings per share calculations were not required for the three months ended March 31, 2017 and 2016, since there were no options outstanding.