! 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 $30 million gaming center: a. Issue $30 million, 5% note. b. Issue 1 million shares of common stock for $30 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. (.e., $5.5 million should be entered as 5,500,000). Round your "Earnings per Share" to 2 decimal places.) Issue Note Issue Stock $ 10,500,000 $ 10,500,000 Operating income Interest expense (note only) Income before tax Income tax expense (40%) Net income Number of shares Earnings per share (Net Income of shares) 3,500,000 4,500,000