Question: XYour answer is incorrect. Try again. Sheffield Corp. is considering two alternatives to finance its construction of a new $1 million plant. (a) Issuance of

 XYour answer is incorrect. Try again. Sheffield Corp. is considering two

XYour answer is incorrect. Try again. Sheffield Corp. is considering two alternatives to finance its construction of a new $1 million plant. (a) Issuance of 100,000 shares of common stock at the market price of $10 per share. (b) Issuance of $1 million, 790 bonds at face value. Complete the following table. (Round earnings per share to 2 decimal places, e.g. 0.25.) Issue Stock Issue Bond Income before interest and taxes $615,000 $615,000 Interest expense from bonds Income before income taxes Income tax expense (40%) Net income Outstanding shares 515,000 Earnings per share

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