Note 14 – Earnings Per Share:

Basic earnings per share are calculated by dividing net income by the weighted average number of shares outstanding during the reporting period. Diluted earnings per share reflect additional dilution from potential common stock issuable upon the exercise of outstanding stock options. The following table sets forth the computation of basic and diluted earnings per common share, as well as a reconciliation of the weighted average number of common shares outstanding to the weighted average number of shares outstanding on a diluted basis.

	Years Ended December 31,
	2018		2017
Earnings per common share –Basic

Net income	$	2,795,249	$	2,603,534

Weighted average number of common shares outstanding		9,279,872		9,190,429

Earnings per common share – Basic	$	0.30	$	0.28

Earnings per common share – Diluted

Net income	$	2,795,249	$	2,603,534

Weighted average number of common shares outstanding		9,279,872		9,190,429

Dilutive effect of employee stock-based awards		39,231		63,373
Weighted average number of common shares outstanding - Diluted		9,319,103		9,253,802

Earnings per common share - Diluted	$	0.30	$	0.28

The Company had no stock options outstanding at December 31, 2018 and 2017, respectively that were anti-dilutive and therefore not included in the diluted earnings per common share calculation.