CALCULATOR BACK INCES nt Exercise 3-21 Sunland Company is considering these two alternatives for financing the purchase of a fleet of airplanes. 1. Issue 60,000 shares of common stock at $42 per share. (Cash dividends have not been paid nor is the payment of any contempte.) 2. Issue 129, 10-year bonds at face value for $2,520,000 It is estimated that the company will earn $819,000 before interest and they as a result of this purchase. The company has an estimated taste or 30and has 1,100 shores of common outstanding prior to the new financing Determine the effect on net income and earnings per share for wing stock and sung bonds. Assume the new shares of new bonds will be outstanding for the entire yew (from earnings per Share to 2 decimal places. 42.66.) Plan One Plan Two Issue Stock Issue Bonds Click if you would like to show Work for this questions on Show Work LETO TEXT