On January 1, 2011, Riney Co. owned 80% of the common stock of Garvin Co. On that date, Garvin's stockholders' equity accounts had the following balances: The balance in Riney's Investment in Garvin Co. account was $552,000, and the noncontrolling interest was $138,000. On January 1, 2011, Garvin Co. sold 10,000 shares of previously unissued common stock for $15 per share. Riney did not acquire any of these shares.

9. What is the balance in Investment in Garvin Co. after the sale of the 10,000 shares of common stock? A. $552,000. B. $560,000. C. $460,000. D. $404,000. E. $672,000.

10. What is the balance in Noncontrolling Interest in Garvin Co. after the sale of the 10,000 shares of common stock? A. $138,000. B. $101,000. C. $280,000. D. $230,000. E. $168,000.

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