Turtles Ltd Acquired 100% of Dove Ltd on 1 July $\quad$

Turtles Ltd acquired 100% of Dove Ltd on 1 July 2021. At acquisition date, Dove Ltd had the following equity items: Retairyed earTings $\quad$$\quad$$\$ 120,000$
Share capital $\quad$$\quad$$\quad$$\quad$$\$ 200,000$ In the year following the acquisition, Dove Ltd paid a bonus share dividend of $30 000 out of pre-acquisition retained earnings. Which of the following consolidation adjustments is needed in the consolidation worksheet for 30 June 2022?
I. Dr Shares in subsidiary $30 000
Cr Share capital $30 000
II. Dr Bonus dividend paid $30 000
Cr Share capital $30 000
III. Dr Share capital $30 000
Cr Bonus dividend paid $30 000
IV. Dr Retained earnings $30 000
Cr Share capital $30 000

A) I.
B) II.
C) III.
D) IV.