Titans Ltd Acquired 100% of Taylor Ltd on 1 July

Titans Ltd acquired 100% of Taylor Ltd on 1 July 2017. At acquisition date, Taylor Ltd had the following equity items: - Retained earnings $48 000
- Share capital $66 000
- Business combination revaluation reserve $20 000
In the year following the acquisition, Taylor Ltd paid a bonus share dividend of $28 000 out of pre-acquisition retained earnings. The following consolidation adjustment is needed in the consolidation worksheet for 30 June 2018:

A) DR Share capital $28 000 CR Bonus dividend paid $28 000
B) DR Shares in subsidiary $28 000 CR Share capital $28 000
C) DR Bonus dividend paid $28 000 CR Share capital $28 000
D) DR Retained earnings $28 000 CR Share capital $28 000