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Exercise 9-1A Compare financing alternatives (LO9-1) [The following information applies to the questions displayed below.] Penny Arcades, Inc., is trying to decide between the following

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Exercise 9-1A Compare financing alternatives (LO9-1) [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 $17 million gaming center: a. Issue $17 million, 6% note. b. Issue 1 million shares of common stock for $17 per share. Exercise 9-1A Part 1 Required: 1. Assuming the note or shares of stock are issued at the beginning of the year, complete the ncome statement for each alternative. (Enter your answers in dollars, not millions. (i.e., \$5.5 million should be entered as 5,500,000). Round your "Earnings per Share" to 2 decimal places

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