(a) King Ltd is engaged in the distribution and trading of toys. The following chart shows the relationship between King Ltd and other companies: Mr. Paul Chen, Managing Director of King Ltd Required: 80% Yale Ltd 15% . Well Ltd The figures in the diagram indicate voting power. King Ltd 30% Zara Ltd (i) If King Ltd is the reporting entity, identify which companies and (4 marks) individuals are related parties in the separate financial statements of King Ltd according to HKAS 24 Related Party Disclosures. Explain your answer. (ii) Explain whether the following are related parties of King Ltd: Rachel Wong, wife of Mr. Paul Chen Apollo Ltd, a major customer of King Ltd. King Ltd relies on Apollo Ltd for more than half of its sales. BOC bank, a bank that provided a major loan of $2 million to King Ltd. (6 marks)