Folmar Co. is considering the following alternative financing plans: Plan 1 Plan 2 Issue 10% bonds (at face value) $1,880,000 $940,000 Issue preferred $1 stock, $10 par 1,560,000 Issue common stock, $5 par 1,880,000 1,260,000 Income tax is estimated at 40% of income. Determine the earnings per share on common stock, assuming income before bond interest and income tax is $1,504,000. Enter answers in dollars and cents, rounding to the nearest cent.

Plan 1 $ ____ Earnings per share on common stock

Plan 2 $ ___ Earnings per share on common stock