Which of the following statements is correct?

		The NCI step 1 entry changes every year that consolidated financial statements are prepared.
		The NCI step 2 entry for the current period reconciles to the adjustments made in NCI step 2 entry and NCI step 3 entry from the prior period.
		The NCI step 3 for the current period is the same as the NCI step 3 entry for the prior period.
		None of the above is correct.

Sandy Ltd holds a 60% interest in Bay Ltd. On 1 July 2018 Bay Ltd sold a depreciable non-current asset to Sandy Ltd at a profit before tax of $10,000. The remaining useful life of the asset at the date of sale was 4 years and the tax rate is 30%. The impact of the above on the NCI share of profit for the year ended 30 June 2020 is:

		DR $1,400.
		CR $1,400.
		DR $700.
		DR $2,100.