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%

---

Definitions:

Humankind

Refers to the human species collectively, encompassing all humans past, present, and future.

Reproduce

The biological process by which new individual organisms are generated, ensuring the continuation of a species.

Innate Mental Inferiority

A controversial and largely discredited concept suggesting that some individuals are born with inherently lower intellectual capabilities.

Anglo-Saxon Heritage

The cultural and historical legacy stemming from the Anglo-Saxon period in England, influencing language, legal systems, and social norms.