Effect of Financing on Earnings per Share

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

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

$$1,300,000$

$1,300,000$

Preferred $$2$ stock, $$20$ par

$1,300,000$

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$)$ $$585,000,(b)$$$715,000,$ and $($c$)$ $$845,000.$