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. (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 Operating income 11,00,000 11,00,000Interest expense (note only) Income before tax Income tax expense (35%) Net income Number of shares 400,000 500,000 Earnings per share (Net income/# of shares)