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...

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:(it is attached)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.value:What is the balance in Investment in Garvin Co. after the sale of the 10,000 shares of common stock? $672,000. $460,000. $404,000. $560,000. $552,000. ReferencesMultiple Choice Difficulty: Medium Learning Objective: 06-06 Understand the accounting for subsidiary stock transactions that impact the underlying value recorded within the parents Investment account and the consolidated financial statements. 10.value:What is the balance in Noncontrolling Interest in Garvin Co. after the sale of the 10,000 shares of common stock? $230,000. $138,000. $280,000. $168,000. $101,000. References