Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

12. Earnings Per Share

The calculation of earnings per share follows:

	2017		2016
Numerator:
Net income	$	4,052,479	$	5,850,998
Denominator:
Denominator for basic earnings per share:
Weighted average shares outstanding		3,356,383		3,327,867
Effect of dilutive employee stock options		368,220		249,956
Denominator for dilutive earnings per share		3,724,603		3,577,823
Basic earnings per share	$	1.21	$	1.76
Dilutive earnings per share	$	1.09	$	1.64

For 2017 and 2016, respectively, 205,500 and 203,000 stock options were excluded from diluted earnings per share calculations because they would have been anti-dilutive.