A group of high school students, including basketball players and cheerleaders, learn that they have the opportunity to win an Oscar and receive a scholarship to attend a prestigious acting school in Hollywood. The students are excited and decide to participate, but things take a turn when the cheerleaders' uniforms go missing, and they suspect that the basketball players are responsible. The basketball players deny any involvement, but the cheerleaders are determined to find their uniforms and perform in front of the producers. In the end, the cheerleaders manage to find their uniforms and perform, impressing the producers and winning the Oscar. The basketball players are left feeling disappointed and frustrated, but the cheerleaders are ecstatic about their win and the opportunity to go to Hollywood.
Here are the key facts extracted from the text:
1. The school principal has announced that a team of producers will be visiting the school to select students to win an Oscar.
2. The students who win the Oscar will get to attend a school for actors in Hollywood for six months and receive a scholarship of $1,000 per month.
3. The students have one hour to prepare before the producers arrive.
4. The cheerleaders are considered the main competition for winning the Oscar.
5. The soccer players are also mentioned as a competing group.
6. The students have to impress the producers to win the Oscar.
7. The cheerleaders' uniforms have been stolen, and they have to find them before the producers arrive.
8. The students who stole the uniforms are not specified, but it is implied that it was another group of students.
9. The producers have arrived, and the students are waiting to perform.
10. The cheerleaders have found their uniforms and are ready to perform.
11. The producers were impressed by the performance and declared the cheerleaders the winners.
12. The cheerleaders will be going to Hollywood in a month and will bring back refrigerator magnets as souvenirs.