Is this set up possible? X a charitable corporation entered into a joint arrangement with SMC private corporation, how would you account for that?

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter22: S Corporations
Section: Chapter Questions
Problem 9BCRQ
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 Is this set up possible? X a charitable corporation entered into a joint arrangement with SMC private corporation, how would you account for that?

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