Speedville Marina needs to raise $2.0 million to expand the company. The company is considering issuing either: . $2,000,000 of 8% bonds payable to borrow the money; or 100,000 shares of common stock at $20 per share. (Click the icon to view additonal information.) Read the requirements. 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.) Plan A Plan B Issue $2,000,000 Issue $2,000,000 of 8% Bonds Payable 600,000 of Common Stock - X More Info $ 400,000 (160,000) Net income before expansion Expected project income before interest and income tax Interest expense Less Expected project income before income tax Less Income tax expense Expected project net income Total company net income 240.000 Before any new financing, Speedville expects to earn net income of $600,000, and the company already has 100,000 shares of common stock outstanding. Speedville believes the expansion will increase income before interest and income tax by $400,000. The company's income tax rate is 30%. (72,000) 168,000 768,000 Print Done Earnings per share after expansion $ 7.68 Requirements X Prepare an analysis to determine which plan is likely to result in the higher earnings per share. Based solely on the earnings-per-share comparison, which financing plan would you recommend for Speedville? Print Done