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Earnings Per Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

12. Earnings Per Share

The calculation of earnings per share is as follows:

 

 

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

Net income

 

$

17,793,160

 

 

$

3,034,766

 

Denominator:

 

 

 

 

 

 

Denominator for basic earnings per share:

 

 

 

 

 

 

Weighted average shares outstanding

 

 

3,572,144

 

 

 

3,527,626

 

Effect of diluted employee stock options

 

 

85,553

 

 

 

191,624

 

Denominator for dilutive earnings per share

 

 

3,657,697

 

 

 

3,719,250

 

Basic earnings per share

 

$

4.98

 

 

$

0.86

 

Diluted earnings per share

 

$

4.86

 

 

$

0.82

 

 

For 2023 and 2022, respectively, 591,624 and 296,438 stock options were excluded from diluted earnings per share calculations because they would have been anti-dilutive.