Effect of Financing on Earnings Per Share Three different plans for financing an $2,200,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount, and the income tax rate is estimated at 40% of income: Plan 1 Plan 2 Plan 3 10% bonds Preferred 596 stock, $80 par Common stock, $2.2 par $1,100,000 1,100,000 $2,200,000 $1,100,000 550,000 550,000 s 2,200,000 $2,200,000 Total $2,200,000 Required: 1. Determine the earnings per share of common stock for each plan, assuming that the income before bond interest and income tax is $4,400,000. Enter answers in dollars and cents, rounding to the nearest cent. Plan 1 Plan 2 Plan 3 2. Determine the earnings per share of common stock for each plan, assuming that the income before bond interest and income tax is $2,090,000. Enter answers in dollars Earnings Per Share on Common Stock 1,000,001 x 500,000 X 250,000 X and cents, rounding to the nearest cent. Plan 1 Plan 2 Plan 3 Earnings Per Share on Common Stock 1,000,00 X 500,000X 250,000 X