Can someone show me step by step how to do #1. That way I can try #2 on my own.

their par or face amount, and the income tax rate is estimated at 40% of income. Plan 1 Plan 2 Plan 3 10% bonds $2,850,000 Preferred 10% stock, $100 par $2,850,000 1,425,000 Common stock, 54 par $5,700,000 2,850,000 1,425,000 Total $5,700,000 $5,700,000 $5,700,000 Round the answers to nearest cent. Instructions: 1. Determine for each plan the earnings per share of common stock, assuming that the income before bond interest and income tax is $1,100,000 Earnings per share of common stock Plan 1 per share Plan 2 per share Plan 3 per share 2. Determine for each plan the earnings per share of common stock, assuming that the income before bond Interest and income tax is $215,000 Earnings per share of common stock per share Plan 1 Plan 2 per share Plan 3 per share