On January 1, 20x1, ABC Co. acquired 80% interest in XYZ, Inc. by issuing 5,000 shares with fair value of P15 per share and par value of P10 per share. The financial statements of ABC Co. and XYZ, Inc. immediately before the acquisition are shown below:

	ABC Co.	XYZ, Inc.
Cash	10,000	5,000
Accounts receivable	30,000	12,000
Inventory	40,000	23,000
Equipment	200,000	50,000
Accumulated depreciation	(20,000)	(10,000)
Total Assets	260,000	80,000
Accounts payable	20,000	6,000
Bonds payable	30,000	-
Share capital	120,000	50,000
Share premium	40,000	-
Retained earnings	50,000	24,000
Total liabilities and equity	260,000	80,000

The fair values of XYZ's assets and liabilities on January 1, 20x1 are shown below:

XYZ, Inc.	Carrying amounts	Fair values	Fair value increment
Cash	5,000	5,000	-
Account receivable	12,000	12,000	-
Inventory	23,000	31,000	8,000
Equipment	50,000	60,000	10,000
Accumulated depreciation	(10,000)	(12,000)	(2,000)
Accounts payable	(6,000)	(6,000)	-
Net assets	74,000	90,000	16,000

The equipment's remaining useful life is 4 years from January 1, 20x1.

NCI is measured using partial goodwill approach.

1. Consolidated Retained Earnings is

A: 74,000. B: 50,000. C. Zero. D: 24,000

2. The amount of non-controlling interest is

A: 18,750. B: 15,000. C. 18,000. D: 148,000

3. the amount of goodwill is

A: 4,000. B: 3,000. C. 3,750. D: 3,200