Complete the income statement for each alternative

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Question - Penny Arcades, Inc., is trying to decide between the following two alternatives to finance its new $21 million gaming center:

a. Issue $21 million, 5% note.

b. Issue 1 million shares of common stock for $21 per share.

Required - Assuming the note or shares of stock are issued at the beginning of the year, complete the income statement for each alternative.

Reference no: EM133056908

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