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On December 3 1 , 2 0 1 3 , Parminter Corporation owned an 8 0 % interest in the common stock of Sanchez Corporation

On December 31,2013, Parminter Corporation owned an 80% interest in the common stock of Sanchez Corporation and an 80% interest in Sanchez's preferred stock. On December 31,2013, Sanchez's stockholders' equity was as follows:
10% preferred stock, cumulative, $10 par value $50,000
\table[[Common stock,350,000],[Retained earnings,100,000],[Total stockholders' equity,$500,000
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