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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2022
Schedule Of Earnings Per Share Basic And Diluted [Abstract]  
Summary of earnings per share basic and diluted

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations for the three and six months ended June 30, 2022 and 2021.

 

 

 

For the three months ended June 30, 2022

 

 

For the three months ended June 30, 2021

 

 

For the six months ended June 30, 2022

 

 

For the six months ended June 30, 2021

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

  Net income

 

$

1,642,007

 

 

$

1,438,724

 

 

$

3,042,904

 

 

$

4,445,031

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic

 

 

13,662,222

 

 

 

13,945,423

 

 

 

13,760,002

 

 

 

13,528,822

 

Effect of stock options

 

 

39,452

 

 

 

—

 

 

 

40,166

 

 

 

—

 

Weighted average shares outstanding - diluted

 

 

13,701,674

 

 

 

13,945,423

 

 

 

13,800,168

 

 

 

13,528,822

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.12

 

 

$

0.10

 

 

$

0.22

 

 

$

0.33

 

Diluted

 

 

0.12

 

 

 

0.10

 

 

 

0.22

 

 

 

0.33