Note 4 - Earnings Per Share

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 4 - EARNINGS PER SHARE

Accounting guidance specifies the computation, presentation and disclosure requirements for earnings per share (“EPS”) for entities with publicly held common stock or potential common stock such as options, warrants, convertible securities or contingent stock agreements if those securities trade in a public market. Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding.  Diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive common shares had been issued.  The dilutive effect of options outstanding under the Company’s stock option plan is reflected in diluted EPS by application of the treasury stock method. There were no stock options outstanding at June 30, 2023 or 2022; and therefore, no dilutive options were included in the calculation of diluted EPS for those periods. The following tables include a summary of the Company's basic EPS for the periods indicated.

	Three Months Ended June 30,
	2023						2022
	Income		Shares		EPS		Income		Shares		EPS
Basic EPS	$	1,778,197		3,253,736	$	0.55	$	2,163,803		3,252,884	$	0.67

	Six Months Ended June 30,
	2023						2022
	Income		Shares		EPS		Income		Shares		EPS
Basic EPS	$	4,452,297		3,253,736	$	1.37	$	3,712,834		3,252,884	$	1.14