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) $2,400,000

Preferred $2 stock, $20 par 2,400,000

Common stock, $25 par 2,400,000

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) $768,000, (b) $1,008,000, and (c) $1,248,000.

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