Alternative Financing Plans Frey Co. is considering the following alternative financing plans: Plan 1 Plan 2 Issue 10% bonds (at face value) $1,200,000 $600,000 Issue preferred $i stock, $10 par - 1,000,000 Issue common stock, $5 par 1,200,000 800,000 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 $360,000 Enter answers in dollars and cents, rounding to two decimal places. Plan 1 Earnings per share on common stock Earnings per share on common stock Plan 2