Exercise $19-21($Static$)$ EPS; convertible preferred stock; convertible bonds; order of entry $[$LO$19-7,19-9]$

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

$$December $3120242023$Common shares$100,000100,000$Convertible preferred shares $($convertible into $32,000$ shares of common$)12,00012,0008\%$ convertible bonds $($convertible into $30,000$ shares of common$)$$ $1,000,000$$ $1,000,000$

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 $31,2024.$