Effect of Financing on Earnings per Share Kelton Co., which produces and sells skiing equipment, is financed as follows: Bond payable, 8% (issued at face amount) $20,000,000 Preferred $2 stock, $10 par 20,000,000 Common stock, $25 par 20,000,000 Income tax is estimated at 40% of income. Determine the earnings per share on common stock, assuming that the income before bond interest and income tax is (a) $10,000,000, (b) $12,000,000, and (c) $14,000,000. Enter answers in dollars and cents, rounding to the nearest whole cent. a. Earnings per share on common stock $ 1.30 b. Earnings per share on common stock $_______?__________ c. Earnings per share on common stock $ _______?__________