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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues and other income:    
Operating lease revenue, net $ 7,316,900 $ 6,044,300
Finance lease revenue 325,400 185,100
Net gain on disposal of assets 13,900 5,400
Net gain on sales-type finance leases 297,400 0
Other income 200 1,300
Total Income 7,953,800 6,236,100
Expenses:    
Depreciation 2,936,100 2,079,500
Interest 1,610,300 1,289,000
Management fees 1,506,800 1,264,000
Professional fees, general and administrative and other 506,100 424,700
Maintenance 256,100 319,900
Insurance 73,200 76,600
Other taxes 22,600 22,700
Provision for impairment in value of aircraft 0 75,000
Total expenses 6,911,200 5,551,400
Income before income tax provision 1,042,600 684,700
Income tax provision 401,100 251,000
Net income $ 641,500 $ 433,700
Earnings per share:    
Basic (in dollars per share) $ 0.41 $ 0.28
Diluted (in dollars per share) $ 0.41 $ 0.28
Weighted average shares used in earnings per share computations:    
Basic (in shares) 1,550,032 1,566,699
Diluted (in shares) 1,550,032 1,566,699