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On January 1 Year 1. Johnson Products, Inc. (Johnson) purchased a 40 percent equity interest in Fairmont Enterprise Inc. (Fairmont). On March 31. Year 2.
On January 1 Year 1. Johnson Products, Inc. (Johnson) purchased a 40 percent equity interest in Fairmont Enterprise Inc. (Fairmont). On March 31. Year 2. Johnson acquired another 15 percent equity interest in Fairmont. Assuming that by December 31 Year 2 Johnson had hired a new CEO for Fairmont and appointed nine of the twelve current board members, which method would Johnson use to report Fairmont's Year 2 financial results?
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