need help with an online question

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ACCA FR Chapter 23 Consolidated statement of financial position Questions Question 2 0f 10

the question
On 31 March, 2014 when Code plc acquired 65% of the 3,000,000 $1 equity shares of Dole
plc, the retained earnings of Code plc and Dole plc were $2,720,000 and $1,940,000
respectively and the market value of the Dole plc shares was $2,60

The carrying amounts of the Dole plc net assets were approximately equal to their fair values
with the exception of a parcel of land that had a fair value $650,000 greater than its carrying
value.

The terms of the acquisition were that Code plc would issue 2 new shares in Code plc for
every 5 shares acquired in Dole plc and would pay $1.20 for each share acquired. In addition
Code plc would issue a $100 7% Unsecured Loan Note for every 390 shares acquired

The Code plc shares had a market value as at date of acquisition of $2.80. Code plc has
decided to measure the non-controlling interest at fair value with the Dole plc share price
being a reasonable indication of fair value

At 31 December, 2014 the retained earnings of Code plc and Dole plc were $2,690,000 and
$1,780,000 respectively. Goodwill is not impaired

At what amount should the non-controlling interest be shown in the consolidated statement
of financial position for the Code plc group as at 31 December, 2014? (Answer to the nearest
$000)

This is the answer:

1,050,000 x 82.60 = 2,730,000
retained earnings (1,940,000 – 1,760,000) x 35% = ( 56,000)
nci @ 31 December 2014 1,050,000 x 82.60 =
2,730,000
retained earnings (1,940,000 – 1,760,000) x 35% = ( 56,000)

I have calculated this:
1,050,000 x 82.60 = 2,730,000
but i cannot deal with the other information given in the question. I have tried relating to the explanation in the lectures and notes but to no avail. This is unlike the first question on the online test where i was able to remove the extra depreciation and therefore adjust the fair value of NCI aquisition.