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Earnings Per Share | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | 9. EARNINGS PER SHARE Basic earnings per share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributed to potentially diluted securities. The following table sets forth the computation of basic and diluted earnings per share:
|  | For the Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Net income |  | $ | 2,057,723 |  |  | $ | 3,281,251 |
Earnings and dividends allocated to participating securities |  |  | (23,567 | ) |  |  | (22,063 | )
Net income attributable to common stockholders |  | $ | 2,034,156 |  |  | $ | 3,259,188 |
Weighted average common shares outstanding: |  |  |  |  |  |
Average number of common shares outstanding - basic |  |  | 10,845,884 |  |  |  | 9,973,113 |
Net effect of dilutive unvested restricted stock awards included for treasury stock method |  |  | 54,157 |  |  |  | 30,948 |
Average number of common shares outstanding - diluted |  |  | 10,900,041 |  |  |  | 10,004,061 |
Earnings per common share |  |  |  |  |  |
Basic |  | $ | 0.19 |  |  | $ | 0.33 |
Diluted |  | $ | 0.19 |  |  | $ | 0.33 |
Common stock dividends totaled $3,019,063. ($0.275 per share) and $2,611,651 ($0.26 per share) for the years ended December 31, 2022 and 2021, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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