Not yet awered Marked out of 400 Plagestion Scenario Information Related Party Disclosure Apex Plc owns 55% of the ordinary shares of Mitchell Ltd. Brown Lid owns 30% of the ordinary shares of Mitchell Ltd. During the accounting period under review, there are no transactions between Apex Plc and Mitchell Ltd, but there are transactions between Brown Ltd and Mitchell Ltd, and between Apex Plc and Brown Ltd. Refer to the scenario information on related party disclosure and answer the following question Explain, with reasons, whether related party relationships exist between the three entities above, based on NZ IAS 24