If a Parent Company Owns 80% of a Subsidiary Company

If a parent company owns 80% of a subsidiary company, which of the following best describes how the assets and liabilities of the combined entity are valued on the consolidated financial statements?

A) All at fair value.
B) All at historical cost.
C) The parent at its book value and the subsidiary at its fair value.
D) The parent at its book value and the subsidiary's at a combination of historical cost and book value.