North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares.
Common stock: par $1, authorized 50,000 shares.

The following transactions occurred during the first year of operations in the order given:

Issued a total of 39,000 shares of the common stock for $16 per share.
Issued 12,000 shares of the preferred stock at $17 per share.
Issued 2,900 shares of the common stock at $21 per share and 1,200 shares of the preferred stock at $17.
Net income for the first year was $47,000, but no dividends were declared.

Required:
Prepare the stockholders's equity section of the balance sheet.

Vintage fun reproduces oldminusfashioned style roller skates and skateboards. the annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. the company has traditionally used direct labor hours to allocate its overhead to products. roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. the total estimated overhead for the period is $114,300. the company is looking at the possibility of changing to an activityminusbased costing system for its products. if the company used an activityminusbased costing system, it would have the following three activity cost pools: the overhead cost per skateboard using the traditional costing system would be closest to: a. $9.31. b. $65.31. c. $25.05. your answer is not correct. d.