EX-12.1 6 v335434_ex12-1.htm EXHIBIT 12.1

  

EXHIBIT 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS

 

   Year   Year   Year   Year   Year 
   Ended   Ended   Ended   Ended   Ended 
   December 31, 2012   December 31, 2011   December 31, 2010   December 31, 2009   December 31, 2008 
                     
Income From Continuing Operations   14,924,146   $14,336,599   $5,344,133   $10,577,001   $9,080,178 
Add:                         
Interest on indebtedness   4,552,930    3,678,884    3,215,554    3,042,652    3,633,134 
Amortization of financing costs   581,353    277,934    245,444    267,210    151,929 
                          
Earnings  $20,058,429   $18,293,417   $8,805,131   $13,886,863   $12,865,241 
                          
Fixed charges and preferred stock dividends:                         
Interest on indebtedness and capitalized interest  $4,692,984   $3,678,884   $3,534,789   $3,263,434   $4,190,779 
Amortization of financing costs   581,353    277,934    245,444    267,210    151,929 
                          
Fixed charges   5,274,337    3,956,818    3,780,233    3,530,644    4,342,708 
                          
Add:                         
  Preferred stock dividends   -    -    -    -    - 
                          
Combined fixed charges and preferred stock dividends  $5,274,337   $3,956,818   $3,780,233   $3,530,644   $4,342,708 
                          
Ratio of earnings to fixed charges   3.80x   4.62x   2.33x   3.93x   2.96x