Quick acquired 80% of the 1m issued £1 ordinary shares of Spec on 1 January 20X1 when Spec’s retained earnings were £1,540,000.

The group measures non-controlling interest (NCI) at fair value at the acquisition date. The FV of the NCI of Spec as at 1 January 20X1 was £1,200,000.

An impairment review performed at 31 December 20X1 indicated that goodwill on the acquisition of Spec had impaired by £400,000.

The retained earnings of Spec at 31 December 20X1 were £2,620,000.

The NCI to be included in the consolidated statement of financial position at 31 December 20X1 will be: