The midsize manufacturing company for which you are the accounting advisor assessed the options you provided. The company has decided to purchase $100\%$ ownership in an overseas subsidiary, as well as $75\%$ ownership in a domestic subsidiary, which itself owns $10\%$ of the parent company. Your company now needs to determine the steps involved in consolidating the financial statements and has asked for your input. Include an analysis of the steps required in translating foreign currency and the process of accounting for the connecting affiliation.