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Required information (The following information applies to the questions displayed below! Penny Arcades, Inc., Is...

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Accounting

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Required information (The following information applies to the questions displayed below! Penny Arcades, Inc., Is trying to decide between the following two alternatives to finance its new $35 million gaming center a. Issue $35 million, 7% note 6. Issue 1 milion shares of common stock for $35 per share Required: 1. Assuming the note or shares of stock are issued at the beginning of the year, complete the income statement for each alternative (Enter your answers in dollars, not millions. (...55.5 million should be entered as 5,500,000). Round your "Earnings per Share" to 2 decimal places.) Issue Note Issue Stock $ 11,000,000 $ 11,000,000 Operating income Morontoperemoto Income before tas Income tax expert (394 Not incomo Number of the Earnings per share (Not incomo of shares) 4,000,000 5.000.000

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