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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | 12. Earnings Per Share The calculation of earnings per share is as follows:
|  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |
Net income |  | $ | 10,022,351 |  |  | $ | 17,793,160 |
Denominator: |  |  |  |  |  |
Denominator for basic earnings per share: |  |  |  |  |  |
Weighted average shares outstanding |  |  | 3,700,568 |  |  |  | 3,572,144 |
Effect of diluted employee stock options |  |  | 397,981 |  |  |  | 85,553 |
Denominator for dilutive earnings per share |  |  | 4,098,549 |  |  |  | 3,657,697 |
Basic earnings per share |  | $ | 2.71 |  |  | $ | 4.98 |
Diluted earnings per share |  | $ | 2.45 |  |  | $ | 4.86 |
For 2024 all outstanding options were included in the calculation of diluted shares. In 2023, 591,624 stock options were excluded from diluted earnings per share calculations because they would have been anti-dilutive.

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