Elephant also holds a 10 percent interest in common stock of VS, a medium- sized exotic animal sanctuary in Iowa that is a corporation capitalized by common stock outstanding. Elephant has representation on VSs board of directors, controlling two of the ten board seats, and participates in the policy-making process. Elephant is the largest shareholder in VS, followed by four other investors with common stock ownerships that range between 7 percent to 9 percent each, and the remaining common stock ownership is widely dispersed among various other investors. Those four investors control one board seat each, and the remaining four board members are independently appointed by the six board members represented by the largest investors.

Under the Equity Method, does Elephant have significant influence over VS? Indicate FASB