Summary of Changes in Shareholders' Equity |
A summary of changes in shareholders’ equity for the three months ended March 31, 2021 is presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | | Additional Paid-In Capital | | Retained Earnings | | Treasury Stock | | Deferred Compensation Trust | | Deferred Compensation Liability | | Total | Balance, December 31, 2020 | | $ | 206 | | | $ | 2,214,426 | | | $ | 8,811,120 | | | $ | (7,922,678) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 3,103,074 | | | | | | | | | | | | | | | | | Net income | | — | | | — | | | 248,762 | | | — | | | — | | | — | | | 248,762 | | | | | | | | | | | | | | | | | Purchase of common stock for treasury | | — | | | — | | | — | | | (377,425) | | | — | | | — | | | (377,425) | | Equity-based compensation | | — | | | 14,471 | | | — | | | — | | | — | | | — | | | 14,471 | | Proceeds from Options exercised | | — | | | 57,625 | | | — | | | — | | | — | | | — | | | 57,625 | | Treasury stock issued upon option exercise and restricted share vesting | | — | | | (14,516) | | | — | | | 14,516 | | | — | | | — | | | — | | Balance, March 31, 2021 | | $ | 206 | | | $ | 2,272,006 | | | $ | 9,059,882 | | | $ | (8,285,587) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 3,046,507 | |
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A summary of changes in shareholders’ equity for the three months ended March 31, 2020 is presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | | Additional Paid-In Capital | | Retained Earnings | | Treasury Stock | | Deferred Compensation Trust | | Deferred Compensation Liability | | Total | Balance, December 31, 2019 | | $ | 206 | | | $ | 2,055,407 | | | $ | 7,909,872 | | | $ | (7,624,241) | | | $ | (16,912) | | | $ | 16,912 | | | $ | 2,341,244 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income | | — | | | — | | | 175,703 | | | — | | | — | | | — | | | 175,703 | | | | | | | | | | | | | | | | | Purchase of common stock for treasury | | — | | | — | | | — | | | (216,582) | | | — | | | — | | | (216,582) | | Equity-based compensation | | — | | | 7,492 | | | — | | | — | | | — | | | — | | | 7,492 | | Proceeds from Options exercised | | — | | | 109,062 | | | — | | | — | | | — | | | — | | | 109,062 | | Treasury stock issued upon option exercise and restricted share vesting | | — | | | (44,646) | | | — | | | 44,646 | | | — | | | — | | | — | | Balance, March 31, 2020 | | $ | 206 | | | $ | 2,127,315 | | | $ | 8,085,575 | | | $ | (7,796,177) | | | $ | (16,912) | | | $ | 16,912 | | | $ | 2,416,919 | |
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