Table 12-1 
-Refer to Table 12-1. Assume that the price of a weekend ski pass is $45 and that the price reflects the actual unit cost of providing a weekend of skiing. Suppose the government imposes a tax of $12 on skiing, which raises the price of a weekend ski pass to $57. What is the value of the surplus that accrues to all four skiers from their weekend trip?
Definitions:
Income from Operation
A company's earnings before interest and taxes (EBIT), representing the profit from ongoing, core business activities.
Dividends
Payments made by a corporation to its shareholders, typically from profits.
Shareholder Equity
The residual interest in the assets of a company after deducting liabilities, representing the net worth attributable to shareholders.
Common Stocks
Shares representing ownership in a corporation, giving holders voting rights and a share in the company's profits through dividends and/or capital appreciation.
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