(3) Net Income Per Common and Common Equivalent Share

3 Months Ended

Mar. 27, 2021

Earnings Per Share [Abstract]

(3) Net Income Per Common and Common Equivalent Share

(3)       Net Income Per Common and Common Equivalent Share

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the sum of the weighted average number of common shares plus additional common shares that would have been outstanding if potential dilutive common shares had been issued for granted stock options and stock purchase rights. Common stock equivalents are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive.

The following table presents the calculation of both basic and diluted EPS:

		Three Months Ended
		March 27,		March 28,
		2021		2020
Basic EPS Computation:
Numerator:
Net income	$	30,903	$	601,654
Denominator:
Weighted average
Common shares
Outstanding		13,584,376		13,206,436
Basic EPS	$	0.00	$	0.05
Diluted EPS Computation:
Numerator:
Net income (loss)	$	30,903	$	601,654
Denominator:
Weighted average
Common shares
Outstanding		13,584,376		13,207,436
Dilutive effect of stock options		680,514		39,395
Total Shares		14,264,890		13,247,131
Diluted EPS	$	0.00	$	0.05