On January 1, 2020, ABC Inc. purchased 25% of the outstanding common shares of XYZ Inc, a private company.You are a corporate accountant for ABC Inc, a publicly traded company with a year ended December 31^st. You have determined that ABC has significant influence over XYZ.Early in January, 2021, you ask XYZ for its financial statements.XYZ provides statements for its year ended November 30, 2020.When you asked, their accountant said that they did not have the resources to consolidate the financial statements corresponding to ABC's year-end and GAAP said that it was OK. Discuss if what XYZ has provided is adequate, including your assumptions, considerations and what you should do, with reference to CPA Handbook.