Watson has a number of relationships with other companies. In which of the following relationships is Watson necessarily the parent? (i) Foll has 50,000 non?voting and 100,000 voting equity shares in issue with each share receiving the same dividend. Watson owns all of Foll's non?voting shares and 40,000 of its voting shares. (ii) Cooper has 1 million equity shares in issue of which Watson owns 40%. Watson also owns $800,000 out of $1 million 8% convertible loan notes issued by Cooper. These loan notes may be converted on the basis of 40 equity shares for each $100 of loan note, or they may be redeemed in cash at the option of the holder. (iii) Watson owns 49% of the equity shares in Ben and 52% of its non?redeemable preference shares. As a result of these investments, Watson receives variable returns from Ben and has the ability to affect these returns through its power over Ben. Review Later (i) only (i) and (ii) only (ii) and (iii) only All three