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

question 37

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 directly to Giant for $150,000 on January 2,2011.Giant's percentage ownership in Penguin immediately after the purchase of the additional stock is

• A)66-2/3%.
• B)80%.
• C)83-1/3%.
• D)86-2/3%

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Definitions:

Romantic Partner

An individual with whom one shares a romantic relationship that often includes emotional and physical intimacy, mutual affection, and a commitment to a shared life.

Anxious

Experiencing worry, unease, or nervousness, typically about an imminent event or something with an uncertain outcome.

Relationship Satisfaction

The level of contentment and fulfillment individuals feel in their personal relationships.

Anxious Man

Anxious Man describes an individual predominantly experiencing or showing symptoms of anxiety, which can interfere with daily activities and relationships.