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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2022 and 2021.

 

 

 

For the three months ended September 30, 2022

 

 

For the three months ended September 30, 2021

 

 

For the nine months ended September 30, 2022

 

 

For the nine months ended September 30, 2021

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

  Net income

 

$

1,930,606

 

 

$

1,042,175

 

 

$

4,973,510

 

 

$

5,487,206

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic

 

 

13,468,751

 

 

 

14,019,317

 

 

 

13,661,851

 

 

 

13,694,117

 

Effect of stock options

 

 

61,106

 

 

 

—

 

 

 

42,837

 

 

 

—

 

Weighted average shares outstanding - diluted

 

 

13,529,857

 

 

 

14,019,317

 

 

 

13,704,688

 

 

 

13,694,117

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.14

 

 

$

0.07

 

 

$

0.36

 

 

$

0.40

 

Diluted

 

 

0.14

 

 

 

0.07

 

 

 

0.36

 

 

 

0.40