Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Reconciliation of net income to net income available to common shareholders

The following tables show the effect of dilutive options on the Company’s net income per common share

The following tables show the effect of dilutive options on the Company’s net income per common share.

	Year Ended December 31, 2019
	Income		Shares	Per Share
Basic EPS	$	7,794,487	2,955,737	$	2.64
Effect of Dilutive Securities:
Senior Convertible Debentures	362,640		302,200	(0.14		)
Diluted EPS	$	8,157,127	3,257,937	$	2.50

(1) Significant Accounting Policies, Continued

	Year Ended December 31, 2018						Year Ended December 31, 2017
	Income		Shares	Per Share			Income		Shares	Per Share
Basic EPS	$	7,207,221	2,953,446	$	2.44		$	5,918,340	2,945,918	$	2.01
Effect of Dilutive Securities:
Stock Options	—		0	—			—		951	—
Senior Convertible Debentures	362,640		303,200	(0.12		)	301,339		303,200	(0.10		)
Diluted EPS	$	7,569,861	3,256,646	$	2.32		$	6,219,679	3,250,069	$	1.91

There were no stock options outstanding as of December 31, 2019 and 2018; and therefore, no dilutive options in the calculation of diluted EPS for those periods. The average market price used in calculating the assumed number of dilutive shares issued for the year ended December 31, 2017 was $29.05.