On december 31, sulfur corporation has the following data available: net income $140,000 market price of one share of common stock $5 preferred dividends 36,000 weighted-average number of shares of common stock outstanding 20,000 shares total common stockholders' equity at the beginning of the year 360,000 total common stockholders' equity at the end of the year 160,000 what is the earnings per share?

Alpine west, inc., operates a downhill ski area near lake tahoe, california. an all-day, adult ticket can be purchased for $55. adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from december 1 through april 30. the season pass is nontransferable, and the $450 price is nonrefundable. alpine expects its season pass holders to use their passes equally throughout the season. the company’s fiscal year ends on december 31. on november 6, 2009, jake lawson purchased a season ticket. required: 1. when should alpine west recognize revenue from the sale of its season passes? 2. prepare the appropriate journal entries that alpine would record on november 6 and december 31. 3. what will be included in the 2009 income statement and 2009 balance sheet related to the sale of the season pass to jake lawson?