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Please show steps when solving The following information appies to the questions displayed below. Penny Arcades, Inc, is trying to decide between the following two
Please show steps when solving The following information appies to the questions displayed below. Penny Arcades, Inc, is trying to decide between the following two alternatives to finance its new $33 million gaming center a issue $33 million of 5% bonds at face amount. b. Issue 1 million shares of common stock for $33 per share. Required informati velue 2.00 points Required: 1. Assuming bonds or shares of stock are issued at the beginning of the year, complete the income statement for each aiternative. (Enter your answer in dollars, not 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.) millions. Q e 10,800,000 10,800,000 Operating income interest expense (bonds only) Income before tax Incorne tax expense (40%) Net income Number of shares Earnings per share 3,800,000 ,800,000
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