Display time in 12 hr format

Write a script named time that displays the time in standard 12-hour format, rather than 24-hour format. Allow the user to give a -m option to get 24-hour format. For example:
> date
Sun Feb 10 10:56:50 CST 2008

> time
10:56 AM

> date
Sun Feb 10 21:57:07 CST 2008

> time
9:57 PM

> time -m
21:57