On January 1, 2018, P Company acquired 100% of K Companys outstanding

common stock at an amount equal to its underlying book value. Selected balance sheet data at December 31, 2018, are as follows:

P Company K Company

Total Assets $420,000 $180,000

Liabilities $120,000 $ 60,000

Common Stock 100,000 50,000

Retained Earnings 200,000 70,000

In December 31, 2018, consolidated balance sheet, what amount should be reported as minority interest in net assets?

Select one: a. 0 b. 30,000 c. 45,000 d. 105,000