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Computation of Earnings Per Share
 6 Months Ended
Jun. 30, 2017
Computation of Earnings Per Share [Abstract]  
Computation of Earnings Per Share
7. Computation of Earnings Per Share

Basic and diluted earnings per share are calculated as follows:

  
For the Six Months
Ended June 30,
  
For the Three Months
Ended June 30,
 
  
2017
  
2016
  
2017
  
2016
 
Net income
 
$
997,200
  
$
732,300
  
$
355,700
  
$
298,600
 
Weighted average shares outstanding for the period
  
1,482,997
   
1,566,699
   
1,416,699
   
1,566,699
 
Basic earnings per share
 
$
0.67
  
$
0.47
  
$
0.25
  
$
0.19
 
Diluted earnings per share
 
$
0.67
  
$
0.47
  
$
0.25
  
$
0.19
 

Basic earnings per common share is computed using net income and the weighted average number of common shares outstanding during the period.  Diluted earnings per common share are computed using net income and the weighted average number of common shares outstanding, assuming dilution.  Weighted average common shares outstanding, assuming dilution, include potentially dilutive common shares outstanding during the period.