NET INCOME
Net Income <Loss> applicable to common shares for basic earnings per share

$31,321

$293,975

$<1,100,839>

$292,506

Net Income <Loss> applicable to common shares for diluted earnings per share

$31,321

$293,975

$<1,100,839>

$292,506

SHARES OUTSTANDING
Weighted average shares for basic earnings per share

1,211,498

1,211,245

1,211,663

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 

73,852

        35,162

      *

     31,357

Total shares for diluted earnings per share

1,286,350

1,246,407

1,211,663

1,242,602

Basic Earnings Per Common Share

$.02

$.24

$<.91>

$.24

Diluted Earnings Per Common Share

$.02

$.24

$<.91>

$.24