4: Penny Corp. and Lenny Corp. are two Canadian companies that began a new venture- P&L Hospitality Inc. Penny Corp. owns 85% of the voting common shares of P&L Hospitality Inc., and Lenny Corp. owns the remaining 15%. The new venture's agreement stipulates that each company gets one vote on strategic decisions. Which of the following statements is true based on the facts presented? A) Penny Corp. and Lenny Corp. each have an equal vote meaning the two companies have joint control since no one company can control the venture on its own. Both Penny Corp. and Lenny Corp. should classify their investment in P&L Hospitality Inc. as a joint arrangement. B) Since Penny Corp. and Lenny Corp. each have an equal vote, neither company can individually control the relevant activities of the venture. Both Penny Corp. and Lenny Corp. should classify their investment in P&L Hospitality Inc. as a passive investment. C) Since Lenny Corp. owns less than 20% of the voting shares of P&L Hospitality Inc., its investment should be classified as a passive investment. D) Since Penny Corp. owns more than 50% of the voting shares of P&L Hospitality Inc., giving it control of the venture