E 19-21 EPS; convertible preferred stock; convertible bonds; order of entryLO19-7, LO019-9 Information from the financial statements of Ames Fabricators, Inc., included the following: Common shares Convertible preferred shares (convertible into 32,000 shares of common) 8% convertible bonds (convertible into 30,000 shares of common) December 31 Required: Compute basic and diluted earnings per share for the year ended December 31, 2024. 2024 100,000 12,000 $1,000,000 2023 100,000 12,000 $1,000,000 Ames's net income for the year ended December 31, 2024, is $500,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2024.

E 19-21 EPS; convertible preferred stock; convertible bonds; order of entry \& LO19-7, \& LO19-9 Information from the financial statements of Ames Fabricators, Inc, included the following