Sun Co. is a wholly owned subsidiary of Par Co. Both companies have separate general ledgers and prepare separate financial statements. Sun requires stand-alone financial statement due to its continuous operations after business combination. Which of the following statement is correct? Select one: a. Consolidated financial statements should be prepared for both Par and Sun. b. Consolidated financial statements should only be prepared by Par and not by Sun. c. After consolidation, the accounts of both Par and Sun should be changed to the new values to reflect the consolidated totals for future ease in individual reporting. d. After consolidation the accounts of both Par and Sun should be combined together into one general-ledger accounting system for future ease in individual reporting