! 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 $27 million gaming center: a. Issue $27 million of 5% bonds at face amount. b. Issue 1 million shares of common stock for $27 per share. 2. Which alternative results in the highest earnings per share? Multiple Choice Issue stock Issue bonds ! Required information The following information applies to the questions displayed below.] On January 1, 2018, Splash City issues $430,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $469,544. Required: 1. Complete the first three rows of an amortization table. Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 1/1/18 6/30/18 12/31/18