Use the Following Information to Answer the Question(s) Below -What Is Goldberg's Percentage Ownership in Savannah After Savannah Issues

question 7

Multiple Choice

Use the following information to answer the question(s) below.

Goldberg Corporation owned a 70% interest in Savannah Corporation on December 31, 2013, and Goldberg's Investment in Savannah account had a balance of $3,900,000. Savannah's stockholders' equity on this date was as follows:
$$\begin{array} { l l } \text { Capital stock, \$10 par value } & \$ 3,000,000 \\\text { Retained Earnings } & \underline { 2,400,000 } \\\text { Total Stockholders' Equity } &\underline { \$ 5,400,000}\end{array}$$
-What is Goldberg's percentage ownership in Savannah after Savannah issues its stock to Goldberg?

• A)76.32%
• B)80.43%
• C)82.57%
• D)83.43%

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Definitions:

Social Roles

The parts or behaviors that individuals are expected to perform based on the norms and expectations of their society or group.

Melting Point

The temperature at which a solid substance transitions to a liquid state under standard pressure conditions.

Lauric Acid

A saturated fatty acid with a 12-carbon atom chain, commonly found in coconut oil and palm kernel oil, used in soap production and other industries.

Myristic Acid

A saturated 14-carbon fatty acid, also known as tetradecanoic acid, common in animal and vegetable fats.