Required Information Exercise 9-1A Compare financing alternatives (L09-1) 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 $25 million gaming center a. Issue $25 million, 6% note. b. Issue 1 million shares of common stock for $25 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. (.e., $5.5 million should be entered as 5,500,000). Round your "Earnings per Share" to 2 decimal places.) Issue Note $ 10,000,000 1,500,000 Issue Stock $ 10,000,000 $ 10,000,000 Operating income Interest expense (note only) Income before tax Income tax expense (30%) Net income Number of shares Earnings per share (Not income /# of shares) $ 0 3,000,000 10,000,000 4,000,000