The capital structure of 212°F Corporation contains the following amounts of share capital:

• The preferred shares do not participate in dividends beyond their designated $8 per share. The call price for the preferred is $12 per share. The Class A common shares have one vote per share. The Class B common shares carry 15 votes per share. The two classes of common shares participate equally in dividends on a share-per-share basis.
• Numbers Incorporated holds the following quantities of 212°F shares:
  40,000 Class A common shares, purchased at $75 per share, and ¢ 44,000 Class B common shares, purchased at $85 per share.

Required:

a. What proportion ofv otes is held by Numbers? Does Numbers control 212°F?

b. When Numbers reports its investment in 212°F by consolidation or on the equity basis, as appropriate, what is Numbers’ total ownership share?

c. What is the amount of the non-controlling interest in 212°F?

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Preferred shares-1,000,000 issued and outstanding $8 dividend per year, cumulative, non-participating, non-voting Class A common shares-600,000 issued and outstanding Class B common shares-50,000 issued and outstanding Retained earnings Total shareholders' equity $ 10,000,000 30,000,000 50,000 84,950,000 $125,000,000