Assume that Penguin sold the additional 3,000 shares to outside interests for $150,000 on January 2, 2014. Giants percentage ownership immediately after the sale of additional stock would be
A. 66-2/3%.
B. 75%.
C. 80%.
D. 83-1/3%.
Answer:A
Assume that Penguin sold the additional 3,000 shares to outside interests for $150,000 on January 2, 2014. Giants percentage ownership immediately after the sale of additional stock would be
A. 66-2/3%. B. 75%. C. 80%. D. 83-1/3%.
Explanation: A) (12,000 shares/18,000 shares) = 66.67%