Exercise 19-21. EPS; convertible preferred stock; convertible bonds; order of entry [LO197, 19-9] Information from the financial statements of Ames Fabricators, Inc., included the following: Ames's net income for the year ended December 31,2021 , is $500,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per share for the year ended December 31, 2021