Summary of Changes in Shareholders' Equity |
A summary of changes in shareholders’ equity for the three months ended March 31, 2024 is presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | | Additional Paid-In Capital | | Retained Earnings | | Treasury Stock | | Deferred Compensation Trust | | Deferred Compensation Liability | | Total | Balance, December 31, 2023 | | $ | 206 | | | $ | 2,848,528 | | | $ | 13,365,025 | | | $ | (11,849,034) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 4,364,725 | | | | | | | | | | | | | | | | | Net income | | — | | | — | | | 394,269 | | | — | | | — | | | — | | | 394,269 | | | | | | | | | | | | | | | | | Purchase of common stock for treasury | | — | | | — | | | — | | | (498,776) | | | — | | | — | | | (498,776) | | Equity-based compensation | | — | | | 17,141 | | | — | | | — | | | — | | | — | | | 17,141 | | Proceeds from Options exercised | | — | | | 67,022 | | | — | | | — | | | — | | | — | | | 67,022 | | Treasury stock issued upon Option exercise and RSU vesting | | — | | | (26,984) | | | — | | | 26,984 | | | — | | | — | | | — | | Balance, March 31, 2024 | | $ | 206 | | | $ | 2,905,707 | | | $ | 13,759,294 | | | $ | (12,320,826) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 4,344,381 | |
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A summary of changes in shareholders’ equity for the three months ended March 31, 2023 is presented below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | | Additional Paid-In Capital | | Retained Earnings | | Treasury Stock | | Deferred Compensation Trust | | Deferred Compensation Liability | | Total | Balance, December 31, 2022 | | $ | 206 | | | $ | 2,600,014 | | | $ | 11,773,414 | | | $ | (10,866,785) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 3,506,849 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income | | — | | | — | | | 344,352 | | | — | | | — | | | — | | | 344,352 | | | | | | | | | | | | | | | | | Purchase of common stock for treasury | | — | | | — | | | — | | | (110,048) | | | — | | | — | | | (110,048) | | Equity-based compensation | | — | | | 22,277 | | | — | | | — | | | — | | | — | | | 22,277 | | Proceeds from Options exercised | | — | | | 81,916 | | | — | | | — | | | — | | | — | | | 81,916 | | Treasury stock issued upon Option exercise and RSU vesting | | — | | | (27,566) | | | — | | | 27,566 | | | — | | | — | | | — | | Balance, March 31, 2023 | | $ | 206 | | | $ | 2,676,641 | | | $ | 12,117,766 | | | $ | (10,949,267) | | | $ | (16,710) | | | $ | 16,710 | | | $ | 3,845,346 | |
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