Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2016 2015 Common shares 100,000 100,000 Convertible preferred shares (convertible into 58,000 shares of common) 27,600 27,600 10% convertible bonds (convertible into 30,000 shares of common) $ 1,000,000 $ 1,000,000 Amess net income for the year ended December 31, 2016, is $760,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2016. Required: Compute basic and diluted earnings per share for the year ended December 31, 2016. (Enter your answers in thousands.)