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 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, 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).

Please include process, need numerator and denominator for both computes