Alternative Financing PlansDesmond 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 $$1$ stock, $$10$ par $1,200,000$ Issue common stock, $$5$ par$1,440,000960,000$ Income tax is estimated at $40\%$ of income.Determine the earnings per share of common stock, assuming that income before bond interest and income tax is $$720,000.$Enter answers in dollars and cents, rounding to two decimal places.Plan $1$$fill in the blank $1$ Earnings per share on common stockPlan $2$$fill in the blank $2$ Earnings per share on common stock