Effect of Financing on Earnings Per Share BSF Co., which produces and sells skiing equipment, is financed as follows: Bonds payable, 10% (issued at face amount) $1,000,000 Preferred 1% stock, $10 par 1,000,000 Common stock, $25 par 1,000,000 Income tax is estimated at 60% of income. Round your answers to the nearest cent. a. Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is $480,000. $ 36 X per share b. Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is $580,000 6 X per share c. Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is $680,000. $ 46 X per share