show your work pls

2. In January 2016, Alberta based Net Keeper Software International Inc. introduced the first filtering software product of its kind. Today, Net Keeper develops and sells the world's most recognized Internet filtering and personal computer security products. Net Keeper has 100,000,000 no par value common shares authorized. The following information about issued share capital (expressed in U.S. dollars) is provided for Net Keeper for the years ended June 30, 2021, 2020, and 2019. 2021 2020 2019 Shares Shares Amount Balance, beginning of year 12,507,998 Issued during year Amount Shares Amount $6,254,451 11,686,883 $5,975,679 7,819,794 $3,784,760 9,220,750 6,375,355 821,115 278,772 3,867,089 2,190,919 21,728,748 $12,629,806 12,507,998 $6,254,451 11,686,883 $5,975,679 Balance, end of year The following additional information is also available: 2021 2020 Net Loss ($2,977,729) ($1,089,966) 2,220,967 Average shareholders' equity 979,635 0.93 Market price per share 1.52 Required: a) Calculate the return on equity ratios for 2021 and 2020 to two (2) decimals. b) Net Keeper reported a loss in both 2021 and 2020. Yet, its market price per share is positive and increasing. Can you explain why investors might be willing to pay an increasing price for a Net Keeper share despite its apparent poor operating performance? c) Speculate as to why Net Keeper is likely financing its operations by issuing additional common shares rather than long-term debt