An ordinary question related FR

Hi sir, The draft statements of the financial position of Ping Co and Pong Co on 30 June 20X8 were as follows. STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 20X8 Ping Co Pong Co $ $ Assets Non-current assets Property, plant, and equipment 50,000 40,000 20,000 ordinary shares in Pong Co at cost 30,000 80,000 Current assets Inventory 3,000 8,000 Owed by Ping Co 10,000 Receivables 16,000 7,000 Cash 2,000 – 21,000 25,000 Total assets 101,000 65,000 Equity and liabilities Equity Ordinary shares of $1 each 45,000 25,000 Revaluation surplus 12,000 5,000 Retained earnings 26,000 28,000 83,000 58,000 Current liabilities Owed to Pong Co 8,000 – Trade payables 10,000 7,000 18,000 7,000 Total equity and liabilities 101,000 65,000 Ping Co acquired its investment in Pong Co on 1 July 20X7 when the retained earnings of Pong Co stood at $6,000. The agreed consideration was $30,000 cash and a further $10,000 on 1 July 20X9. Ping Co’s cost of capital is 7%. Pong Co has an internally-developed brand name – ‘Pongo’ – which was valued at $5,000 at the date of acquisition. There have been no changes in the share capital or revaluation surplus of Pong Co since that date. At 30 June 20X8 Pong Co had invoiced Ping Co for goods to the value of $2,000 and Ping Co had sent payment in full but this had not been received by Pong Co. There is no impairment of goodwill. It is group policy to value NCI at full fair value. At the acquisition date the NCI was valued at $9,000. Required Prepare the consolidated statement of the financial position of Ping Co as at 30 June 20X8. The draft statements of the financial position of Ping Co and Pong Co on 30 June 20X8 were as follows. STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 20X8 Ping Co Pong Co $ $ Assets Non-current assets Property, plant and equipment 50,000 40,000 20,000 ordinary shares in Pong Co at cost 30,000 80,000 Current assets Inventory 3,000 8,000 Owed by Ping Co 10,000 Receivables 16,000 7,000 Cash 2,000 – 21,000 25,000 Total assets 101,000 65,000 Equity and liabilities Equity Ordinary shares of $1 each 45,000 25,000 Revaluation surplus 12,000 5,000 Retained earnings 26,000 28,000 83,000 58,000 Current liabilities Owed to Pong Co 8,000 – Trade payables 10,000 7,000 18,000 7,000 Total equity and liabilities 101,000 65,000 Ping Co acquired its investment in Pong Co on 1 July 20X7 when the retained earnings of Pong Co stood at $6,000. The agreed consideration was $30,000 cash and a further $10,000 on 1 July 20X9. Ping Co’s cost of capital is 7%. Pong Co has an internally-developed brand name – ‘Pongo’ – which was valued at $5,000 at the date of acquisition. There have been no changes in the share capital or revaluation surplus of Pong Co since that date. On 30 June 20X8 Pong Co had invoiced Ping Co for goods to the value of $2,000 and Ping Co had sent payment in full but this had not been received by Pong Co. There is no impairment of goodwill. It is group policy to value NCI at full fair value. At the acquisition date the NCI was valued at $9,000. Required Prepare the consolidated statement of financial position of Ping Co as at 30 June 20X8. Below is working for NIC at year-end: $ Pong Co’s net assets per question (65,000-7000) = 58,000 intangible asset (brand name) = 5000 ______ 63000 NCI shares 20%. 12,600 goodwill 800 _____ 13,400 Sir, can you explain where have we found 20% NCI? Thanks in advance