Grace Corp. suffered a net loss in 2020 of $250,000. The company has 230,000 common shares outstanding as of January 1, 2020, and declared a 1-for-2 reverse stock split on March 31. In addition, the company bought 11,500 shares for the treasury on August 31, 2020, and 4,600 shares of stock were issued on November 1, 2020, in exchange for legal services. The company had 2,300 shares of 5%, $10 par, cumulative, nonconvertible preferred stock for the year 2020. No common or preferred stock dividends were declared in 2020.

Compute the required EPS amount.

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?