1 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 $26 million gaming center: Part 2 a. Issue $26 million of 7% bonds at foce amount b. Issue 1 million shares of common stock for $26 per share. Required: 1. Assuming bonds or shares of stock are issued at the beginning of the year, complete the income statement for each alternative. (Enter your answer in dollars, not millions (e. $5.5 million should be entered as 5,500,000). Round your "Earnings per Share" to 2 decimal places. Round your "Earnings per Share to 2 decimal places.) Issue Bonda Issue Block 5. 10.100,000 $ 10.100,000 Operating income Interest expense boods only) Income before tax Income tax expense (35%) Net income Number of shares Earnings per share 3.100.000 4,100,000