please help me the below question

Question 1 (16 marks) Pacific Company, a Hong Kong listed company, acquired 45% of ordinary shares of Ocean Company on 1 July 2019. The remaining 55% of the shares of Ocean are owned by five other investors, each individually holding 11% interest. Pacific prepares consolidated financial statements for the year ended 31 December 2019 in accordance with HKFRSs. It is the company's policy to measure non-controlling interests at fair value at the date of acquisition. Required: 1. Assume Pacific has the power given by contractual agreement with the other investors of Ocean to appoint and remove the majority of the members of the board of directors of Ocean. Is Ocean a subsidiary or an associate of Pacific? Discuss. (3 marks) 2. Assume evidence gives mixed signals on the existence of control. Pacific has a choice of accounting for its investment in Ocean in its consolidated financial statements either using equity method or consolidation method. If you are a shareholder of Pacific, how would your perceptions of the profitability and solvency of the economic entity (Pacific and Ocean) be affected by the two methods? Justify your conclusions by discussing the impact of the two methods on the following financial ratios or items: a. Total equity attributable to Pacific's owners; b. Net profit after tax and non-controlling interests; c. Net profit margin; and d. Debt to equity ratio. (10 marks) 3. Assume Ocean operates in England. Its functional currency is the US dollar while it maintains its books and accounting record in the British pound. What method(s) will Pacific use to translate Ocean's financial statements into its presentation currency, the HK dollar