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Effect of Financing on Earnings per Share

Henriksen Co$.,$ which produces and sells biking equipment, is financed as follows:

Bonds payable, $5\%($issued at face amount$)$

Preferred $$2\mathrm{.}00$ stock, $$100$ par

$$6,000,000$

$3,000,000$

$5,000,000$

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$)$ $$900,000,($b$)$ $$1,100,000,$ and $($c$)$ $$1,500,000.$

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 $