Effect of Financing on Earnings per Share Kelton Co., which produces and sells skiing equipment, is financed as follows:
Income tax is estimated at 40% of income.
Determine the earnings per share on common stock, assuming that the 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.