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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Common Share

Note 15. Earnings Per Common Share

 

Earnings per common share are calculated as follows:

 

    2016     2015     2014  
Basic:                        
Net income   $ 1,100,720     $ 1,352,616     $ 1,914,526  
Weighted average common shares outstanding     2,780,477       2,768,966       2,755,671  
Basic net income per share   $ 0.40     $ 0.49     $ 0.69  

 

Diluted earnings per share calculations were not required for 2016, 2015, and 2014 as there were no options outstanding at December 31, 2016, 2015, and 2014.