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Consolidations a) Two investors, A and B form an investee, C to develop and market a scientic product. One investor is responsible for research and developing as well as obtaining regulatory approval of the scientic productthat responsibility includes having the unilateral ability to make all decisions relating to the development of the product and to obtaining regulatory approval. Once the regulator has approved the product, the other investor will manufacture and market itthis investor has the unilateral ability to make all decisions about the manufacture and marketing of the product. Required: According to AASB 1O Consolidated Financial Statements, based on the given facts, analyze and based on considerations determine which investor A, B or both has sufcient control over investee C and provide your explanations. (1 0 marks) b) Trident Ltd and Poseidon Ltd own 51% and 49% respectively of the ordinary shares that carry voting rights at a general meeting of shareholders of Quantum Ltd. Poseidon Ltd also holds debenture instruments that are convertible into ordinary shares of Quantum Ltd at some point in time. The debenture can be converted at a substantial price, in comparison with Poseidon Ltd's net assets, at any time, and if converted would require Poseidon Ltd to borrow additional funds to make the payment. If the debentures were to be converted, Poseidon Ltd would hold 75% of the voting rights and Trident Ltd's interest would reduce to 25%. Given the effect of increasing its debt on its debt equity ratio, Poseidon Ltd does not believe that it has the nancial ability to enter into conversion of the debt. Required: Discuss whether Poseidon Ltd is a parent of Quantum Ltd