6) Earnings Per Share

9 Months Ended

Sep. 30, 2019

Notes

6) Earnings Per Share

6)      Earnings Per Share

The basic and diluted earnings per share amounts were calculated as follows:

	Three Months Ended September 30		Nine Months Ended September 30
	2019	2018	2019	2018
Numerator:
Net earnings	$   3,617,414	$   2,013,746	$     9,027,786	$     22,177,886
Denominator:
Basic weighted-average shares outstanding	17,230,987	17,152,656	17,240,745	17,072,531
Effect of dilutive securities:
Employee stock options	189,744	234,670	194,010	222,771
Diluted weighted-average shares outstanding	17,420,731	17,387,326	17,434,755	17,295,302
Basic net earnings per share	$0.21	$0.12	$0.52	$1.30
Diluted net earnings per share	$0.21	$0.12	$0.52	$1.28

Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the nine months September 30, 2019 and 2018, there were 864,915 and 589,822 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net earnings per common share as their effect would be anti-dilutive.