Peter acquired 90% of the share capital of Saul on 1 January 20X2. At this date, the fair value of Saul's net assets was

$100,000 and goodwill was correctly calculated at $30,000. At 1 January 20X5, the fair value of the net assets of Saul was

$140,000 and goodwill had been impaired by $20,000. At the same date, Peter's retained earnings were $70,000. The non-controlling interest is valued using the fair value method.

What is the total group retained earnings at 1 January 20X5?

$60,000

$75,000

$88,000

$100,000