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

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Accounting

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

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