Alternative Financing Plans Frey Co. is considering the following alternative financing plans: Plan 1 $1,400,000 Plan 2 $700,000 Issue 10% bonds (at face value) Issue preferred $1 stock, $10 par 1,160,000 Issue common stock, $5 par 1,400,000 940,000 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 $420,000. 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 $