Use the Following Information to Answer the Question(s)below

question 17

Multiple Choice

Use the following information to answer the question(s) below.
On December 31,2010,Giant Corporation's Investment in Penguin Corporation account had a balance of $500,000.The balance consisted of 80% of Penguin's $625,000 stockholders' equity on that date.Giant owns 80% of Penguin.On January 2,2011,Penguin increased its outstanding common stock from 15,000 to 18,000 shares.
-Assume that Penguin sold the additional 3,000 shares to outside interests for $150,000 on January 2,2011.Giant's percentage ownership immediately after the sale of additional stock would be

• A)66-2/3%.
• B)75%.
• C)80%.
• D)83-1/3%.

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Definitions:

Mass Media

Various forms of communication mediums, such as television, radio, newspapers, and the Internet, that reach a large audience.

Mass Media

Various forms of communication, such as television, radio, newspapers, and the internet, that reach large audiences simultaneously, playing a significant role in shaping public opinion and culture.

Audiences

Audiences refer to the assembled group of individuals who receive and respond to a work of art, a performance, a speech, or any other presented content, often characterized by varying levels of engagement and interpretation.

Mass Media

Forms of communication, such as newspapers, radio, television, and the internet, that reach large audiences.