NET INCOME
Net income (loss) applicable to common
shares for basic earnings per share

$(390,744)

$104,503

Net income (loss) applicable to common
shares for diluted earnings per share

$(390,744)

$104,503

SHARES OUTSTANDING
Weighted average shares for basic earnings per share

1,211,245

1,211,245

Net effect of dilutive stock options - based on the treasury stock method using year-end market price, if higher than average market price 

               -*

   21,551

Total shares for diluted earnings per share

1,211,245

1,232,796

Basic Earnings Per Common Share

$(.32)

$.09

Diluted Earnings Per Common Share

$(.32)

$.08