Wakeville Marina needs to raise $1.4 million to expand the company. Wakeville Marina is considering the issuance of either $1,400,000 of 8% bonds payable, or 100,000 common shares at $14 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 Wakeville Marina? Plan 1 Plan 2 Issue $1,400,000 Issue $1,400,000 of 8% Bonds Payable of Common Shares Less: Less: Which financing plan would you recommend based solely on EPS? This quiz: 100 point(s) possible This question: 10 point(s) possible Earnings per share after expansion le Marina is considering the issuance of either Expected project income before income tax Expected project income before interest and income tax Expected project net income gs per share. Based solely on the earnings-per-shai Income tax expense jher earnings per share (EPS). (For amounts with Interest expense Net income before expansion Plan 1 Plan 2 ue $1,400,000 Issue $1,400,000 Total company net income Bonds Payable of Common Shares Less: Less: Additional info Before any new financing, Wakeville Marina expects to earn net income of $200,000, and the company already has 100,000 shares of common shares outstanding. Wakeville Marina believes the expansion will increase income before interest and income tax by $220,000. The income tax rate is 40%. Print Done