Nautical Marina needs to raise $0.8 million to expand the company. Nautical Marina is considering the issuance of either $800,000 of 6% bonds payable, or 100,000 common shares at $8 per share. (Click the icon to view additional information.) Prepare an analysis to determine which plan is likely to result in higher earnings per share. Based solely on the earnings-per-share comparison, which financing plan would you recommend for Nautical Marina? Start by preparing the analysis to determine which plan is likely to result in higher earnings per share (EPS). (For amounts with a $0 balance, make sure to enter "0" in the appropriate column. Round earnings per share to the nearest cent.) Less: Less: Which financing plan would you recommend based solely on EPS? Plan 1 Issue $800,000 of 6% Bonds Payable Plan 2 Issue $800,000 of Common Shares Neither plan Plan 1 Plan 2 Additional info Before any new financing, Nautical Marina expects to earn net income of $250,000, and the company already has 100,000 shares of common shares outstanding. Nautical Marina believes the expansion will increase income before interest and income tax by $190,000. The income tax rate is 35%. Print Done -