Information from the financial statements of Ames Fabricators, Incorporated included the following: Ames's net income for the year ended December 31,2024 , is $800,000. 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 )