Penny Arcades, Inc., is trying to decide between the following two alternatives to finance its new $25 million gaming center: Issue $25 million, 6% note.
Issue 1 million shares of common stock for $25 per share.
rev: 01_30_2019_QC_CS-156023
Required:
1. Assuming the note or shares of stock are issued at the beginning of the year, complete the income statement for each alternative.

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.