Information from the financial statements of Ames Fabricators, Incorporated 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 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. Required: Compute basic and diluted earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator Basic Diluted Denominator = Earnings per Share