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Income Per Common Share
 3 Months Ended
Jun. 30, 2025
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-month periods ended June 30, 2025 and 2024.

 

   2025   2024 
Net income  $241,951   $291,039 
           
Shares outstanding:          
Weighted average common shares outstanding – basic   2,046,000    2,090,786 
Effect of the assumed exercise of dilutive stock options   27,309    44,635 
Weighted average common shares outstanding – dilutive   2,073,309    2,135,421 
Income per common share:          
Basic  $0.12   $0.14 
Diluted  $0.12   $0.14 

 

For the three months ended June 30, 2025, 90,206 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 $13.09 at June 30, 2025. For the three months ended June 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. Anti-dilutive stock options have a weighted average exercise price of $15.34 at June 30, 2024.