FSA8-2. Analyze equity section of balance sheet. (LO I, 3, 5). The following information is from the comparative balance sheets of Ameristar Casinos, Inc.: Adapted from Ameristar Casinos, Inc. From the Consolidated Balance Sheets (amounts in thousands, except share data) Shareholders' equity: December 31, December 31, 2008 2007 Preferred stock, $0.01 par value, 30,000,000 shares authorized; none issued and outstanding Common stock, $0.01 par value; 120,000,000 shares 581 S 579 authorized; 58,093,041 shares issued and shares outstanding at December 31, 2008; and 57,946,167 shares issued and_ shares outstanding at December 31, 2007 Additional paid-in-capital 246,662 234,983 Retained earnings 136,551 285,238 Other comprehensive gain (loss) (27,295) Treasury stock, at cost, 792,322 shares at December 31, 2008, and 787,236 shares at December 31, 2007 (17,719) (17,674) Total shareholders' equity $338,780 $503,126 1. How many shares of common stock were outstanding at December 31, 20087 2. How many shares of common stock were outstanding at December 31, 2007? 3. What was the average issue price per share of the 58,093,041 shares classified as "issued" at December 31, 20087 (Round the answer to the nearest cent.) 4. The company paid cash dividends of $18,015 (in thousands) during the year ended December 31, 2008. What was the com- pany's net income or net loss for the year ended December 31, 2008?Group Assignment In groups, select two companies that you would invest in if you had the money. Find their financial statements on the Internet and examine the shareholders' equity section of their balance sheets. What does your analysis tell you about each firm? Is this a good investment? Explain your findings and conclusion