On January 1 2016, Paulus Company Purchased 75% of Sweet

Multiple Choice

On January 1 2016, Paulus Company purchased 75% of Sweet Corporation for $500,000. Sweet' stockholders' equity on that date was equal to $600,000 and Sweet had 60,000 shares issued and outstanding on that date. Sweet Corporation sold an additional 15,000 shares of previously unissued stock on December 31, 2016. Assuming that Paulus Company purchased the additional shares, what would be their current percentage ownership on December 31, 2016?

A) 92%
B) 87%
C) 80%
D) 100%