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) Preferred $2 stock, $20 par- Common stock, $25 par Income tax is estimated at 40% of income. $1,450,000 1,450,000 1,450,000 Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is (a) $551,000, (b) $696,000, and (c) $841,000. Enter answers in dollars and cents, rounding to two decimal places. a. Earnings per share on common stock 0.65 X b. Earnings per share on common stock 2.15 X c. Earnings per share on common stock 3.65 X Feedback Check My Work Set up a column for each plan. Remember to take interest, income tax and dividends into consideration.