In the following situation, discuss and determine whether a parentsubsidiary relationship exists, and which entity, if any, is a parent. You must fully explain and support your answer. This includes identifying and discussing each of the important facts or considerations in each case. Bernadette Ltd and Howard Ltd each hold 50% of the shares in Jerry Ltd, all companies being involved in the computer software industry. Bernadette Ltd agrees that Howard Ltd should provide the management of Jerry Ltd because of the expertise provided by its managing director, Barry Kripke. Howard Ltd receives a management fee for providing its expertise.