Please calculate and show work so that I can better understand how to do this.

Fugate Inc. is considering these two alternatives to finance its construction of a new $2,228,000plant:

1.	Issuance of222,800shares of common stock at the market price of $10per share.
2.	Issuance of $2,228,000,6% bonds at face value.

Complete the table.(Round earnings per share to 2 decimal places, e.g. $2.66.)

Issue Stock	Issue Bond
Income before interest and taxes	$1,555,000	$1,555,000
Interest expense from bonds
Income before income taxes
Income tax expense (40%)
Net income	$	$
Outstanding shares		712,400
Earnings per share	$	$