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You need to calculate the P&L for that year for the retained earnings figure and that’s it!!! There will be no NCI or no consolidation on the SOFP
This is derived from calculating the value of the NCI of Petal @ the date of the additional 10% purchase. The NCI own 30% of Petal and Rose are acquiring 1/3 of that. Firstly you get your NCI @ Acq date, 46.00. Now work out if they’ve made any profits to increase their value from 46. (or the opposite) So the post Acq profits were 4.00 other & 56.00 p&l as per the SOFP, minus the amortisation of the patent which was not included in the SOFP giving you 59. So @ Acq date other was 3 & p&l was 49 = 52. There’s a 7m gain in the year. NCI’s share = 30%, so 2.1. Add the NCI @ Acq date to post Acq profits. 46.00 + 2.10 = 48.10 / 3 as we want 10% = 16.03.
Hope this helps & good luck!!!