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 $31 million gaming center. a. Issue $31 million of 6% bonds at face amount. b. Issue 1 million shares of common stock for $31 per share. Required: 1. Assuming bonds or shares of stock are issued at the beginning of the year, complete the income statement for each alternative (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000). Round your "Earnings per Share" 2 decimal places. Round your "Earnings per Share" to 2 decimal places.) Issue Bonds $ 10,600,000 Issue Stock $ 10,600,000 Operating income Interest expense (bonds only) Income before tax Income tax expense (30%) Net Income Nurnber of shares 1 Earnings per share 5 5 0 ,600,000 3 4,600,000 apter 9 Homework Saved Help Save Required information [The following information applies to the questions displayed below On January 1, 2018, Splash City issues $410,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $374,826. Required: 1. Complete the first three rows of an amortization table. Date Cash Paid Interest Increase in Carrying Value Carrying Value 1/1/18 6/30/18 12/31/18 + per.pdf