Miller Co., which produces and sells skiing equipment, is financed as follows:

Bonds payable, 10% (issued at face amount) $10,000,000
Preferred $1 stock, $10 par 10,000,000
Common stock, $25 par 10,000,000

Income tax is estimated at 40% of income.
Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is
(a) $3,000,000,
(b) $4,000,000, and
(c) $5,000,000.