ke: Practice! Alternative financing riaus Alternative Financing Plans Frey Co. is considering the following alternative financing plans: Plan 1 $960,000 Issue 10% bonds (at face value) Plan 2 $480,000 800,000 Issue preferred $1 stock, $10 par Issue common stock, $5 par 960,000 640,000 Income tax is estimated at 40% of income. Determine the earnings per Share on common stock, assuming that income before bond interest and income tax is $384,000 Enter answers in dollars and cents, rounding to two decimal places. Earnings per share on common stock Earnings per share on common stock Submit Answer Try Another Version eBook Show Me How Calculator Print Item Alternative Financing Plans Frey Co. is considering the following alternative financing plans: Plan 1 Issue 10% bonds (at face value) $1,600,000 Plan 2 $800,000 1,330,000 1,070,000 Issue preferred $1 stock, $10 par Issue common stock, $5 par 1,600,000 Income tax is estimated at 40% of income. Determine the earnings per share on common stock, assuming that income before bond interest and income talls $480,000. Enter answers in dollars and cents, rounding to two decimal places Plan X Earnings per share on common stock Plan 2 X Earnings per share on common stock T Check My Work Set up a column for each plan. Remember to take interest income tax and dividends into consideration