t of Financing on Earnings Per Share e different plans for financing an $8,600,000 corporation are under consideration by its organizers of the following plans, the securities will be issued at their par or face amount, and the income tax mated at 40% of income: Plan 1 Plan 2 % bonds ferred 10% stock, $40 par mmon stock, $8.6 par Plan 3 $4,300,000 2,150,000 2,150,000 $4,300,000 $8 60,0004.300,000 Total $ 8,600,000 $8,600,000 $ 8,600,000 equired: Determine the earnings per share of common stock for each plan, assuming that the income before bon terest and income tax is $17,200,000. Enter answers in dollars and cents, rounding to the nearest cent. Earnings Per Share on Common Stock lan 1 Plan 2 Plan 3 2. Determine the earnings per share of common stock for each plan, assuming that the income before bond nterest and income tax is $8,170,000. Enter answers in dollars and cents, rounding to the nearest cent. Earnings Per Share on Common Stock Plan 1 Plan 2 Plan 3 3. The principal advantage of Plan 1 is that it involves only the issuance of common stock, which does not require a periodic interest payment or return of principal, and a payment of preferred dividends Previous Check My Work