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Sleeping Bear Travel, Incorporated, is trying to decide between the following two alternatives to finance its new $15 milion gaming center: a. 1 ssue $15
Sleeping Bear Travel, Incorporated, is trying to decide between the following two alternatives to finance its new $15 milion gaming center: a. 1 ssue $15 million, 5% note. b. issue 1 miltion shares of common stock for $15 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. 2. Which alternative results in the higher earnings per share? Answer is not complete. Complete this question by entering your answers in the tabs below. Assuming the note or shares of stock are issued at the beginning of the year, complete the income statement for each Assuming the alternative. Note: Enter your answers in doltars, not millions (1.e., 55.5 million should be entered as 5,500,000), Round your "Earmings per Share to 2 decimal places Assuming the note or shares of stock are issued at the beginning of the year, complete the income statement for each alternative. Note: Enter your answers in dollars, not millions (h.e, $5.5 million should be entered as 5,500,000 ), Round your "Earrings per Share to 2 decimal places
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