Mercedes, Co. has the following quarterly financial information. 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter Sales Revenue $ 909,800 $ 919,300 $ 917,600 $ 925,400 Cost of Goods Sold 304,900 317,500 317,100 322,300 Operating Expenses 248,100 259,500 257,700 261,800 Interest Expense 3,800 3,800 3,800 3,700 Income Tax Expense 84,700 87,600 87,600 90,100 Average Number of Common Shares Outstanding 795,030 790,064 791,670 805,000 Stock price when Q4 EPS released $ 24 Required: Calculate the gross profit percentage for each quarter. Calculate the net profit margin for each quarter. Calculate the EPS for each quarter. Calculate the Price/Earnings ratio at the end of the year.

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?