EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Year | Year | Year | Year | Year | ||||||||||||
Ended | Ended | Ended | Ended | Ended | ||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | December 31, 2009 | ||||||||||||
Income From Continuing Operations | 18,944,922 | 14,239,560 | $ | 13,736,137 | $ | 4,761,768 | $ | 10,018,746 | ||||||||
Add: | ||||||||||||||||
Interest on indebtedness | 5,739,303 | 4,552,930 | 3,678,884 | 3,215,554 | 3,042,652 | |||||||||||
Amortization of financing costs | 735,424 | 581,353 | 277,934 | 245,444 | 267,210 | |||||||||||
Earnings | $ | 25,419,649 | $ | 19,373,843 | $ | 17,692,955 | $ | 8,222,766 | $ | 13,328,608 | ||||||
Fixed charges and preferred stock dividends: | ||||||||||||||||
Interest on indebtedness and capitalized interest | $ | 6,306,096 | $ | 4,701,984 | $ | 3,678,884 | $ | 3,534,789 | $ | 3,263,434 | ||||||
Amortization of financing costs | 735,424 | 581,353 | 277,934 | 245,444 | 267,210 | |||||||||||
Fixed charges | 7,041,520 | 5,283,337 | 3,956,818 | 3,780,233 | 3,530,644 | |||||||||||
Add: | ||||||||||||||||
Preferred stock dividends | - | - | - | - | - | |||||||||||
Combined fixed charges and preferred stock dividends | $ | 7,041,520 | $ | 5,283,337 | $ | 3,956,818 | $ | 3,780,233 | $ | 3,530,644 | ||||||
Ratio of earnings to fixed charges | 3.61x | 3.67x | 4.47x | 2.18x | 3.78x |