How do I find the earnings per share?

A company is trying to decide between the following two aternatives to finance its new $21 million gaming center: a. Issue $21 milion, 5% note. b. Issue 1 million shares of common stock for $21 per share with expected annusl dividends of $1.05 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. 2. Answer the following questions for the current year- (a) By how much are interest payments higher if issuing the note? (b) By how much are dlvidend payments higher by issuing stock? (c) Which ahternative results in higher earnings per share? Complete this question by entering your answers in the tabs below. Assuming the note or shares of stock are issutd at the beginning of the vear, complete the income statement for each alternative. (Enter your answers in dollars, not milions (ke, $5,5 milion should be entered as 5,500,000 ). Meund vour Farnings per Share" to 2 decimal placesi)