Holding Company. Usry Company holds stock in company A and company B and possesses voting control over both. Balance sheet data follow:
Usry Corporation
Investment Long-term liabilities $ 30,000
Company A $ 20,000 Preferred stock 10,000
Company B 80,000 Common stock equity 60,000
Total $100,000 Total $100,000
Company A
Current assets $200,000 Current liabilities $100,000
Noncurrent assets 300,000 Long-term liabilities 200,000
common stock equity 200,000
Total $500,000 Total $500,000
Company B
Current assets $300,000 Current liabilities $200,000
Noncurrent assets 400,000 Long-term liabilities 350,000
Common stock equity 150,000
Total $700,000 Total $700,000
(a) What is the percent of total assets controlled by Usry Corporation resulting from its common stock equity? (b) Assuming another company owns 25 percent of the common stock of Usry and has voting control, what is the percent of the total assets controlled by the other firm’s equity?