Ethanol Lawn Mowers issued 500,000 shares to the public. Gross revenue was $31.25 million and net income was $30 million. Merrel Bench was the lead underwriter and negotiator on the deal, but 10 other investment bankers (one of whom was Golden Sax) were also used to provide capital and help sell the issue. Which of the following statements is/are correct? I. The public paid $62.50 per share. II. Golden Sax was the original house. III. The spread per share was $3.50. IV. Merrel Bench is the original house.

I and IV

IV only

II and III

I and II