x | PowerSchool: Parent Sign In X WileyPLUS X + en.wileyplus.com/edugen/Iti/main.uni Imported From Fire... Return to Blackboard Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT Exercise 15-12 Sunland Airlines is considering two alternatives for the financing of a purchase of a fleet of airplanes. These two alternatives are: 1. Issue 85,650 shares of common stock at $30 per share. (Cash dividends have not been paid nor is the payment of any contemplated.) 2. Issue 9%, 10-year bonds at face value for $2,569,500. It is estimated that the company will earn $885,000 before interest and taxes as a result of this purchase. The company has an estimated tax rate of 40% and has 114,500 shares of common stock outstanding prior to the new financing. Determine the effect on net income and earnings per share for these two methods of financing. (Round earnings per share to 2 decimal places, e.g. 2.25.) Plan One Issue Stock Plan Two Issue Bonds Net income 85650 Earnings per share LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER 4:48 PM search O 8/18/2020 hp 12 prt sc delete home end 14 0 6 7 1- 914 10 $ % & backspace num lock 6