Listed are the equity sections of balance sheets for years
2014 and 2015 as reported by Mountain Air Ski Resorts, Inc. The overall value
of stockholders' equity has risen from $1,910,000 to $6,600,000. Use the
statements to discover how and why this
happened. The company paid total dividends of $210,000 during fiscal 2015.
a. What was Mountain Air's net income for fiscal 2015?
b. How many new shares did the corporation issue and sell during the year?
c. At what average price per share did the new stock sold
during 2015 sell?
d. At what price per share did Mountain Air's original 580,000
shares sell?
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