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 $35 million gaming center a. Issue $35 million, 7% note. b.Issue 1 million shares of common stock for $35 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. (le, $5.5 million should be entered os 5,500,000). Round your "Earnings per Share" to 2 decimal places.) Issue Note Issue Stock $ 11.000.000 $ 11,000,000 Operating income Interest exponse (note only) Income before tax Income tax expense (35%) Net income Number of shares Earnings por share (Not income of shares) $ OS 4,000,000 0 5,000,000