Ulmer Company is considering the following alternative financing plans:

	Plan 1	Plan 2
Issue 8% bonds at face value	$2,000,000	$1,000,000
Issue preferred stock, $15 par		1,500,000
Issue common stock, $10 par	2,000,000	1,500,000

Income tax is estimated at 35% of income. Dividends of $1 per share were declared and paid on the preferred stock.

Required:

Determine the earnings per share of common stock, assuming income before bond interest and income tax is $600,000. Round your answers to two decimal places.

Earnings per Share on Common Stock
Plan 1	$
Plan 2	$