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

	December 31
	2024	2023
Common shares	100,000	100,000
Convertible preferred shares (convertible into 64,000 shares of common)	24,000	24,000
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, 2024, is $700,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2024.

Required:

Compute basic and diluted earnings per share for the year ended December 31, 2024

please compute in this format

\begin{tabular}{|l|c|c|c|c|c|} \hline & Numerator & & Denominator & = & Earnings per Share \\ \hline Basic & & & & = & \\ \hline Diluted & & & = & \\ \hline \end{tabular}