Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
Six Months | Year | Year | Year | Year | Year | |||||||||||||||||||
Ended | Ended | Ended | Ended | Ended | Ended | |||||||||||||||||||
June 30, 2012 | December 31, 2011 | December 31, 2010 | December 31, 2009 | December 31, 2008 | December 31, 2007 | |||||||||||||||||||
Income From Continuing | ||||||||||||||||||||||||
Operations | 7,493,106 | $ | 15,100,003 | $ | 7,215,714 | $ | 12,514,503 | $ | 10,993,029 | $ | 11,727,923 | |||||||||||||
Add: | ||||||||||||||||||||||||
Interest on indebtedness | 2,017,271 | 3,678,884 | 3,215,554 | 3,042,652 | 3,633,134 | 3,274,640 | ||||||||||||||||||
Amortization of financing costs | 264,427 | 277,934 | 245,444 | 267,210 | 151,929 | 161,847 | ||||||||||||||||||
Earnings | $ | 9,774,804 | $ | 19,056,821 | $ | 10,676,712 | $ | 15,824,365 | $ | 14,778,092 | $ | 15,164,410 | ||||||||||||
Fixed charges and preferred stock dividends: | ||||||||||||||||||||||||
Interest on indebtedness and capitalized interest | $ | 2,047,384 | $ | 3,678,884 | $ | 3,534,789 | $ | 3,263,434 | $ | 4,190,779 | $ | 3,830,640 | ||||||||||||
Amortization of financing costs | 264,427 | 277,934 | 245,444 | 267,210 | 151,929 | 161,847 | ||||||||||||||||||
Fixed charges | 2,311,811 | 3,956,818 | 3,780,233 | 3,530,644 | 4,342,708 | 3,992,487 | ||||||||||||||||||
Add: | ||||||||||||||||||||||||
Preferred stock dividends | - | - | - | - | - | - | ||||||||||||||||||
Combined fixed charges and preferred stock dividends | $ | 2,311,811 | $ | 3,956,818 | $ | 3,780,233 | $ | 3,530,644 | $ | 4,342,708 | $ | 3,992,487 | �� | |||||||||||
Ratio of earnings to fixed charges | 4.23 | x | 4.82 | x | 2.82 | x | 4.48 | x | 3.40 | x | 3.80 | x |