XML 28 R18.htm IDEA: XBRL DOCUMENT v3.22.0.1
Note 10 - Earnings Per Share
3 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

10.

Earnings Per Share

 

Basic earnings per common share for the three months ended December 31, 2021 and 2020 were calculated by dividing net income by the weighted average common shares outstanding during the period. Diluted earnings per common share were calculated by dividing net income by the weighted average common shares outstanding during the period plus potential dilutive common shares.

 

A reconciliation of basic and diluted earnings per share is presented below:

 

  

Three Months Ended December 31,

 
  

2021

  

2020

 

Net income

 $3,584,529  $4,723,263 

Weighted average common shares

  8,383,986   8,167,793 

Effect of dilutive securities:

        

Options to purchase common stock

  9,046   14,390 

Diluted average common shares

  8,393,032   8,182,183 

Earnings per share of common stock:

        

Basic

 $0.43  $0.58 

Diluted

 $0.43  $0.58