The following information relates to Heather Limited and its subsidiary, Thistle Limited.
1. Heather Limited

Retained profits as at 31 March 20X8 £700,000.

80,000 ordinary shares were purchased in Thistle Limited on 1 April 20X1 for £150,000.

2. Thistle Limited

Retained profits as at 1 April 20X1 £50,000.

Retained profits as at 31 March 20X8 £120,000.

There were no other capital or revenue account balances at either of these dates.

Issued share capital: 100,000 ordinary shares of £1 each.

3. Goodwill arising on consolidation is written off immediately on acquisition against reserves.

Required:

Make the following calculations:

(a) The goodwill arising on the acquisition of Thistle Limited;

(b) The retained profits to be shown in the Heather Group balance sheet as at 31 March 20X8;

(c) The minority interest in the Heather Group as at 31 March 20X8.