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 $23 million gaming center: a. Issue $23 million, 6% note. b. Issue 1 million shares of common stock for $23 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. (i.e., $5.5 million should be entered as 5,500,000). Round your "Earnings per Share" to 2 decimal places.) Issue Note Issue Stock $ 9,800,000 $ 9,800,000 Operating income Interest expense (note only) Income before tax Income tax expense (30%) Net income Number of shares Earnings per share (Net income /# of shares) $ $ 0 2,800,000 3,800,000