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Income Per Common Share
 6 Months Ended
Sep. 30, 2024
Income per common share:  
Income Per Common Share

9. Income Per Common Share

 

The following is a reconciliation of the number of shares used in the calculation of basic and diluted net income per share for the three and six month periods ended September 30, 2024 and 2023.

 

   2024   2023   2024   2023 
   Three Months Ended   Six Months Ended 
   September 30,   September 30, 
   2024   2023   2024   2023 
Net income  $317,198   $269,433   $608,237   $735,047 
                     
Shares outstanding:                    
Weighted avg. shares outstanding – basic   2,073,696    2,122,336    2,082,194    2,129,213 
Effect of assumed exercise of dilutive stock options   44,108    52,377    44,371    49,506 
Weighted avg. shares outstanding – dilutive   2,117,804    2,174,713    2,126,565    2,178,719 
                     
Income per common share:                    
Basic  $0.15   $0.13   $0.29   $0.35 
Diluted  $0.15   $0.12   $0.29   $0.34 

 

For the three months ended September 30, 2024, 61,125 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive. For the six months ended September 30, 2024, 60,500 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive. Anti-dilutive stock options have a weighted average exercise price of $15.34 at September 30, 2024. For the three and six months ended September 30, 2023, 63,000 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive. Anti-dilutive stock options have a weighted average exercise price of $15.32 at September 30, 2023.