Entities required to prepare consolidated financial statements    LO2, 4 In the following independent situations, discuss which entity, if any, may be a parent required to prepare consolidated financial statements under AASB 10/IFRS 10. 1. Jamie Ltd owns 100% of the shares of Pod Ltd, which owns 100% of the shares of Mira Ltd. All companies prepare their own financial reports under AASB/IFRS accounting standards. Although the shares of Pod Ltd are not traded on any public stock exchange, it is in the process of issuing debt instruments in a public market. 2. Runner Ltd owns 80% of the shares of Beep Beep Ltd, which owns 100% of the shares of Looney Ltd. All companies prepare their own financial reports under AASB/IFRS accounting standards. Although the shares of Beep Beep Ltd are not traded on any public stock exchange, its debt instruments are publicly traded.3. Edgar Ltd owns 100% of the shares of Lin Ltd, which owns 80% of the shares of Zhang Ltd. All companies prepare their own financial reports under AASB/IFRS accounting standards. Lin Ltd does not have debt or equity instruments traded in a public market, nor does it intend to issue any.