Three Months Ended

Nine Months Ended

September 30,

2020

2019

2020

2019

Numerator:

Net Income

$

576,064

$

273,693

$

1,307,904

$

684,396

Preferred Stock Dividends

(70,058

)

(70,058

)

(210,174

)

(210,174

)

Numerator for basic and diluted EPS - income available to common Shareholders

$

506,006

$

203,635

$

1,097,730

$

474,222

Denominator:

Denominator for basic EPS - Weighted average shares

1,915,200

1,872,939

1,909,151

1,871,093

Dilutive effect of options

69,527

12,549

58,330

-

Denominator for diluted EPS - Adjusted weighted average shares

1,984,727

1,885,488

1,967,481

1,871,093

Basic income per common share

$

0.26

$

0.11

$

0.57

$

0.25

Diluted income per common share

$

0.25

$

0.11

$

0.56

$

0.25