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Henriksen Co., which produces and sells biking equipment, is financed as follows: ...

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Accounting

Henriksen Co., which produces and sells biking equipment, is financed as follows:
Bonds payable, 10%(issued at face amount) $2,350,000
Preferred $1 stock, $10 par 2,350,000
Common stock, $25 par 2,350,000
Income tax is estimated at 40% of income.
Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is (a) $822,500,(b) $1,057,500, and (c) $1,292,500.

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