Bonds payable, 8% (issued at face amount) $20,000,000
Preferred $2 stock, $10 par 20,000,000
Common Stock, $25 par 20,000,000

Income tax is estimated at 40% of income.

Determind the earnings per share on common stock, assuming that income before bond interest and income tax is (a) $10,000,000, (b) $12,000,000, and (c) $14,000,000.

Enter answers in dollars and cents, rounding to the nearest whole cent.

a. Earnings per share on common stock $______

b. Earnings per share on common stock $______

c. Earnings per share on common stock $_______