Calculation of the non‐controlling interest, multiple subsidiaries, acquisitions on the same date  LO3 On 1 July 2019, Nauru Ltd acquired 60% of the issued shares of Nepal Ltd for $300 000, and Nepal Ltd acquired 80% of the issued shares of New Zealand Ltd for $190 000. It was considered that Nauru Ltd exercised control over Nepal Ltd and New Zealand Ltd. At acquisition date, the equity for Nepal Ltd and New Zealand Ltd was as follows. Nepal Ltd New Zealand Ltd Share capital $200 000 $ 140 000 General reserve 130 000 70 000 Retained earnings 80 000 20 000 At 1 July 2019, all the identifiable assets and liabilities of both Nepal Ltd and New Zealand Ltd were recorded at fair value. Three years later, the companies provided the following information. Nepal Ltd New Zealand Ltd Profit before income tax $ 24 000 $18 000 Income tax expense 10 000 7 500 Profit 14 000 10 500 Retained earnings (1/7/21) 88 000 27 500 102 000 38 000 Dividend declared 10 000 8 000 Retained earnings (30/6/22) $ 92 000 $30 000 There was a transfer to reserves of $4000 from pre‐acquisition profits in the period ended 30 June 2021 by New Zealand Ltd. Required Calculate the non‐controlling interest’s share of retained earnings at 30 June 2022 of Nepal Ltd and New Zealand Ltd.