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Shareholders who own shares in both companies

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Sarah Kern owns 80% of the shares of Kern Ltd. and 5% of the shares of Lorne Inc. Kern Ltd. owns 30% of the shares of Lorne Inc. Sarah's 12 year old daughter owns 25% of the shares of Lorne Inc. There are no other shareholders who own shares in both Companies. Are Kern Ltd. and Lorne Inc. associated? Explain your conclusion.

Reference no: EM133556132

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