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Earnings Per Share
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share

12. Earnings Per Share

The calculation of earnings per share is as follows:

 

 

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

3,034,766

 

 

$

13,655,679

 

Denominator:

 

 

 

 

 

 

 

 

Denominator for basic earnings per share:

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

3,527,626

 

 

 

3,471,374

 

Effect of diluted employee stock options

 

 

191,624

 

 

 

483,861

 

Denominator for dilutive earnings per share

 

 

3,719,250

 

 

 

3,955,235

 

Basic earnings per share

 

$

0.86

 

 

$

3.93

 

Diluted earnings per share

 

$

0.82

 

 

$

3.45

 

 

For 2022 and 2021, respectively, 296,438 and 229,250 stock options were excluded from diluted earnings per share calculations because they would have been anti-dilutive.