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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. In accordance with GAAP, the basic and diluted earnings per share amounts were calculated as follows:

 Schedule of Earnings Per Share, Basic and Diluted

		2024				2023
		Three Months Ended March 31,
		2024				2023
Numerator:
Net earnings		$	7,474,522			$	1,240,172
Denominator:
Basic weighted-average shares outstanding			22,219,490				22,129,713
Effect of dilutive securities:
Employee stock options			726,352				558,060
Diluted weighted-average shares outstanding			22,945,842				22,687,773
Basic net earnings per share		$	0.34			$	0.06
Diluted net earnings per share		$	0.33			$	0.05

Summary of Activities in Shares of Capital Stock

The following table summarizes the activity in shares of capital stock.

 Summary of Activities in Shares of Capital Stock

		Class A				Class C
Outstanding shares at December 31, 2022			18,758,031				2,889,859
Stock dividends			48,046				-
Exercise of stock options
Vesting of restricted stock units
Conversion of Class C to Class A			936				(936	)
Outstanding shares at March 31, 2023			18,807,013				2,888,923
Outstanding shares at December 31, 2023			20,048,002				2,971,854
Common stock, outstanding shares, beginning			20,048,002				2,971,854
Exercise of stock options			-				-
Vesting of restricted stock units			405				-
Conversion of Class C to Class A			174				(174	)
Outstanding shares at March 31, 2024			20,048,581				2,971,680
Common stock, outstanding shares, ending			20,048,581				2,971,680

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- Definition

Tabular disclosure of information related to converting stock into another financial instrument(s) in a noncash (or part noncash) transaction.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482913/230-10-50-4

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
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-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482913/230-10-50-5

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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