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How do I complete the following table? Layton Inc. is considering two alternatives to finance its construction of a new $5 million plant. (a)Issuance of

How do I complete the following table?

Layton Inc. is considering two alternatives to finance its construction of a new $5 million plant.

(a)Issuance of 500,000 shares of common stock at the market price of $10 per share.

(b)Issuance of $5 million, 9% bonds at par.

Issue StockIssue Bonds

Income before interest and taxes$2,000,000$2,000,000

Interest expense from bonds

__________________

Income before income taxes$$

Income tax expense (30%)__________________

Net income$________$________

Outstanding shares_________700,000

Earnings per share__________________

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