Information from the financial statements of Ames Fabricators, Inc., included the following:

	December 31
		2021			2020
Common shares		100,000			100,000
Convertible preferred shares (convertible into 32,000 shares of common)		12,000			12,000
8% convertible bonds (convertible into 30,000 shares of common)	$	1,000,000		$	1,000,000

Amess 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. (Enter your answers in thousands (For example, 100,000 should be entered as 100). Do not round intermediate calculations.)