Two companies are financed as follows: X Co. Y Co. Bonds payable, 9% issued at face $5,000,000 $3,000,000 Common stock, $25 par 3,000,000 3,000,000 Income tax is estimated at 40% of income for both...

Two companies are financed as follows:

Income tax is estimated at 40% of income for both companies.

Determine for each company the earnings per share of common stock, assuming that the income before bond interest and income taxes is $2,280,000 each. Round your answers to two decimal places.