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Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings per Share [Abstract]  
Calculated Basic and Diluted Earnings Per Share



 

 

 

 

 

 

 

 

 



 

Years Ended December 31,



 

2019

 

2018

 

2017

Numerator – net income

 

$

 4,087,000 

 

$

 4,000,000 

 

$

 3,378,000 

Denominator:

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

 6,002,214 

 

 

 6,075,798 

 

 

 6,110,365 

Increase in weighted average shares outstanding due to:

 

 

 

 

 

 

 

 

 

Stock options

 

 

 -

 

 

 9,902 

 

 

 8,930 

Diluted weighted average shares outstanding (1)

 

 

 6,002,214 

 

 

 6,085,700 

 

 

 6,119,295 



 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

 0.68 

 

$

 0.66 

 

$

 0.55 

Diluted

 

$

 0.68 

 

$

 0.66 

 

$

 0.55 



(1)

Stock options to purchase 64,547 shares under the Stock Option Plan and 20,000 shares under the EIP at $14.38 were outstanding during 2019 and 2017, but were not included in the calculation of diluted earnings per share because to do so would have been anti-dilutive.