Sailing Marina needs to raise $1.5 million to expand the company. Sailing Marina is considering the issuance of either - $1,500,000 of 6% bonds payable, or - 100,000 common shares at $15 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 Sailing Marina? Additional info (EPS). (For per share to the Before any new financing, Sailing Marina expects to earn net income of $300,000, and the company already has 100,000 shares of common shares outstanding. Sailing Marina believes the expansion will increase income before interest and income tax by $240,000. The income tax rate is 35%. 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.) Which financing plan would you recommend based solely on EPS? Earnings per share after expansion Expected project income before income tax Expected project income before interest and income tax Expected project net income Income tax expense Interest expense Net income before expansion Total company net income