On May 1, Ivy Olson sold short 100 shares of X stock at $50 per share and bought on margin 100 shares of Y stock for $100 per share. The initial and maintenance margin requirements are 60% and 30%, respectively. On June 30, X stock sold for $60 per share, and Y stock sold for $80 per share.

a) What was the initial equity in Ivys account on May 1?

b) What was the equity in Ivys account on June 30?

c) What was Ivys rate of return on investment?

d) Determine whether Ivys account was restricted as of June 30.