Consolidated financial statements are proper for Neel Inc., Rand Inc., and Walk Inc. if :
a. Neel owns 80% of the outstanding common stock of Rand and 40% of Walk Rand owns 30% of Walk.
b. Neel owns 100% of the outstanding common stock of Rand and 90% of Walk: currently the foreign country in which Walk is based has imposed restrictions preventing Walk from remitting profits to Neel.
c. Neel owns 80% of the owstanding common stock of Rand and 40% of Walk; Reeves Inc. owns 55% of Walk