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Effect of Financing on Earnings per Share

Henriksen $C{o}_0,$ which produces and sells biking equipment, is financed as follows:

Bonds payable, $10\%($issued at face amount$)$

$$2,200,000$

$2,200,000$

$2,200,000$

Preferred $$1$ stock, $$10$ par

Common stock, $$25$ par

Income tax is estimated at $40\%$ of income.

Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is $($a$)$ $$704,000,($b$)$ $$924,000,$ and $($c$)$ $$1,144,000.$

Enter answers in dollars and cents, rounding to two decimal places.

a$.$ Earnings per share on common stock $

b$.$ Earnings per share on common stock $

c$.$ Earnings per share on common stock $