oga Corporation owns significant amounts of the common stock in three Japanese corporations. The following table describes these investments: Other Significant Investors Mishima Corporation Tanizaki Corporation Kawabata Corporation Percentage of Common Stock Owned by Saratoga 85% 35% 40% None Mitsui Corporation owns 51% of Tanizaki's common stock Softbank owns 20% of Kawabata's common stock not Representa tion on the boards of directors of Mishima and Tanizaki is proportional to common stock ownership. However, this is case at Kawabata. Saratoga has appointed five of Kawabata's eight directors. All eight directors have voting rights. When preparing consolidated financial statements, which of these investments would Saratoga treat as subsidiaries? Pag a. Mishima only b. Kawabata only c. Mishima and Kawabata d. All three