Alternative Financing Plans Frey Co. Is considering the following alternative financing plans: Plan 1 Plan 2 Issue 10% bonds (at face value) $1,440,000 $720,000 Issue preferred $1 stock, $100 par 1,200,000 Issue common stock, $5 par 1,440,000 960,000 Income tax is estimated at 40% of income. Determine the earnings per share on common stock, assuming that income before bond interest and income tax is $1,152,000. Enter answers in dollars and cents, rounding to two decimal places. X Earnings per share on common stock Plan 1 0.60 0.50 X Earnings per share on common stock Plan 2 Feedback Y Check My Work Set up a column for each plan. Remember to take interest, income tax and dividends into consideration