Two companies are financed as follows: X Co. Y Co. Bonds payable, 9% issued at face $5,000,000 / $3,000,000 Common stock, $20 par 3,000,000 /3,000,000 Income tax is estimated at 40% of income. *Determine for each company the earnings per share of common stock, assuming that the income before bond interest and income taxes is $1,500,000 each