On 1 January 20X8, Coconut acquired 80% of the share capital of Rice for £100,000 when Rice had retained earnings of £30,000. At 31 December 20X9, the reserves of Coconut were £400,000 and for Rice...

Extracted text: On 1 January 20X8, Coconut acquired 80% of the share capital of Rice for £100,000 when Rice had retained earnings of £30,000. At 31 December 20X9, the reserves of Coconut were £400,000 and for Rice they were £50,000. NCI is measured using the fair value method and goodwill has impaired by £21,600 to date. What amount should be presented in the consolidated statement of financial position at 31 December 20X9, as the retained earnings of the group? a. £398,400 b. £398,720 O c. £416,000 d. £402,720 e. £428,400 f. None of these options are correct g. £394,400