Three different plans for financing an $3,000,000 corporation are under consideration by its organizers. Under each...

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Three different plans for financing an $3,000,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount, and the income tax rate is estimated at 40% of income: 10% Bonds Preferred 10% stock, $40 par Common stock, $3 par Plan 1 Plan 2 Total Plan 3 Earnings Per Share on Common Stock Plan 1 000 $3,000,000 $3,000,000 Plan 2 Required: 1. Determine the earnings per share of common stock for each plan, assuming that the income before bond interest and income tax is $6,000,000. Enter answers in dollars and cents, rounding to two decimal places. $1,500,000 1,500,000 $3,000,000 Plan 31 $1,500,000 750,000 750,000 $3,000,000 2. Determine the earnings per share of common stock for each plan, assuming that the income before bond interest and income tax is $2,850,000. Enter answers in dollars and cents, rounding to two decimal places. Plan 1 Plan 2 Earnings Per Share on Common Stock Plan 3 3. The principal payment or return of principal, and a payment of preferred dividends ( of Plan 1 is that it involves only the issuance of common stock, which does not require a periodic interest. required. Three different plans for financing an $3,000,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount, and the income tax rate is estimated at 40% of income: 10% Bonds Preferred 10% stock, $40 par Common stock, $3 par Plan 1 Plan 2 Total Plan 3 Earnings Per Share on Common Stock Plan 1 000 $3,000,000 $3,000,000 Plan 2 Required: 1. Determine the earnings per share of common stock for each plan, assuming that the income before bond interest and income tax is $6,000,000. Enter answers in dollars and cents, rounding to two decimal places. $1,500,000 1,500,000 $3,000,000 Plan 31 $1,500,000 750,000 750,000 $3,000,000 2. Determine the earnings per share of common stock for each plan, assuming that the income before bond interest and income tax is $2,850,000. Enter answers in dollars and cents, rounding to two decimal places. Plan 1 Plan 2 Earnings Per Share on Common Stock Plan 3 3. The principal payment or return of principal, and a payment of preferred dividends ( of Plan 1 is that it involves only the issuance of common stock, which does not require a periodic interest. required.