Final answer:
Without the total value of Zip Company's shares or the price per share at the time of purchase, it's impossible to calculate the exact percentage of common shares that Akron, Incorporated purchased for $16,350. The question implies a 20% purchase, but without additional information, this cannot be confirmed.
Step-by-step explanation:
To determine what percent of Zip Company's common shares Akron, Incorporated purchased for $16,350 on December 31, 2022, we would need to know the total value of Zip Company's shares or the price per share at the time of purchase. Without this information, we cannot calculate the exact percentage. The ratio of the amount paid to the total value or the cost per share would give us the percentage of ownership acquired. It's akin to solving for a part of a whole in a mathematical fraction; the numerator is the amount paid, and the denominator is the total value or the cost per share, which is then converted into a percentage.
If Akron, Incorporated purchased 20% of Zip Company as indicated, they would have made the purchase based on the appropriate valuation of the company's common shares at that time. However, without the context of the company valuation or the price per share, a definitive answer cannot be provided.