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6) Earnings Per Share | 3 Months Ended
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Mar. 31, 2021
Disclosure Text Block [Abstract] |
6) Earnings Per Share | 6) Earnings Per Share The basic and diluted earnings per share amounts were calculated as follows:
|  | Three Months Ended March 31
|  | 2021 |  | 2020
Numerator: |  |  |  |
Net earnings |  | $ 12,128,715 |  | $ 1,424,449
Denominator: |  |  |  |
Basic weighted-average shares outstanding |  | 19,124,001 |  | 18,641,950
Effect of dilutive securities: |  |  |  |
Employee stock options |  | 884,049 |  | 191,446
Diluted weighted-average shares outstanding |  | 20,008,050 |  | 18,833,396
Basic net earnings per share |  | $ 0.63 |  | $ 0.08
Diluted net earnings per share |  | $ 0.61 |  | $ 0.08
Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the three months March 31, 2021 and 2020, there were -0- and 1,316,506 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net earnings per common share as their effect would be anti-dilutive. Basic and diluted earnings per share amounts are the same for each class of common stock. The following table summarizes the activity in shares of capital stock for the periods presented:
|  | Class A |  | Class C
Outstanding shares at December 31, 2019 |  | 16,107,779 |  | 2,500,887
Exercise of stock options |  | 22,411 |  | -
Stock dividends |  | 404,839 |  | 61,720
Conversion of Class C to Class A |  | 11,162 |  | (11,162)
Outstanding shares at March 31, 2020 |  | 16,546,191 |  | 2,551,445
Outstanding shares at December 31, 2020 |  | 16,595,783 |  | 2,679,603
Exercise of stock options |  | 27,926 |  | -
Stock dividends |  | - |  | -
Conversion of Class C to Class A |  | 48,527 |  | (48,527)
Outstanding shares at March 31, 2021 |  | 16,672,236 |  | 2,631,076

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