Petros Limited Is a Subsidiary of Butros Limited

Multiple Choice

Petros Limited is a subsidiary of Butros Limited. When Butros acquired its 60% interest, the retained earnings of Petros Limited were $20 000. At the beginning of the current period Petros Limited's retained earnings had increased to $50 000. Petros earned profit of $10 000 during the current period. The share of the NCI in the closing retained earnings of Petros Limited at reporting date is:

A) $20 000
B) $24 000
C) $32 000
D) $36 000