On 1 July 2012 Girls Ltd Acquired 25% of the Shares

On 1 July 2012 Girls Ltd acquired 25% of the shares of Spice Ltd for $200 000. At that date the equity of Spice Ltd was $800 000, with all identifiable assets and liabilities being measured at fair value. Profits/(losses) made since the date of acquisition are as follows. $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Year ended } \\30 \text { June }\end{array} & \text { Profit/(Loss) } \\&\$\\\hline 2013 & 40000 \\\hline 2014 & ( 400000 ) \\\hline 2015 & ( 500000 ) \\\hline 2016 & 32000 \\\hline 2017 & 40000 \\\hline\end{array}$$ There have been no dividends paid or movements in reserves since the date of acquisition.
At 30 June 2016 the equity accounted balance of the investment in Spice was:

A) nil.
B) ($7000) .
C) $8000.
D) $32 000.