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Note 9 - Earnings Per Share
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Earnings Per Share [Text Block]
Note
9
–
Earnings
per Share
The calculation of basic and diluted weighted average common shares outstanding is as follows:
 
   
2017
    
2016
  
Weighted average common shares outstanding basic
earnings per share
    
6,375,848
      
6,285,815
  
                 
Effect of potential common share issuance:
                
Stock options
    
11,616
      
---
  
                 
Weighted average common shares outstanding
                
Diluted
earnings per share
    
6,387,464
      
6,285,815
  
 
Stock options to purchase
387,930
shares of common stock were outstanding and
207,930
were exercisable at
December 31, 2017.
At
December 31, 2017,
options to purchase
22,930
shares were included in the diluted earnings per share calculation because their average market price was higher than the exercise price. Stock options to purchase
284,730
shares of common stock were outstanding and
124,730
were exercisable at
December 31, 2016.
At
December 31, 2016
none
of the outstanding options were included in the diluted earnings per share calculation as their effect would have been anti-dilutive.