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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

For the Year Ended December 31,

 

 

 

2020

 

 

2019

 

Net income

 

$

274,341

 

 

$

590,619

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

Average number of common shares outstanding - basic

 

 

9,273,554

 

 

 

7,699,966

 

Net effect of dilutive unvested restricted stock awards included for treasury stock method

 

 

9,133

 

 

 

2,151

 

Average number of common shares outstanding - diluted

 

 

9,282,687

 

 

 

7,702,117

 

Earnings per common share

 

 

 

 

 

 

 

 

Basic

 

$

0.03

 

 

$

0.08

 

Diluted

 

$

0.03

 

 

$

0.08