mock exam question on NCI

Q:when a company acquired 80% of the 50,000 $1 equity shares of another company for $80,000 cash the fair valued net assets of the new subsidiary were valued at $85,000. The investing company had in issue $300,000 equity shares of 50cents each. Subsequent to acquisition, the subsidiary has achieved $55,000 retained earnings and the parent’s retained earnings at the date of this year’s statement of financial position was $102,000. There have been no shares issued by either company since acq and the parent company directors value the NCI on a proportional basis.

What figure appear in the sons sofp under the heading nci

A:
W1 Company Struture: Parent 80%—Subs 20%
if 80% =50000 shares, 20% = 50000/0.8 * 0.2 = 12500 @ $1 = $12500

w2 good will
cost of investment $80000
FV for the NCI @ DOA thus $17500 (value nci on proportional basis)

Share Cap $12500
ret ears nil
other net assets FV $85000

Good will= 80000-12500-85000= $17500

w3 per q P=102,000 S=55000
minus pre aq ————————————-
our subs share 20%=55000*0.2 = 11000

thus conl financial statements NCI = 17500+11000=28500
but the answer in MCQ don’t have this option and the correct answer at $28000

please clarify thanks