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Assume that your company owns a subsidiary operating in Canada. The subsidiary maintains its books in the Canadian Dollar (CAD) as its functional currencyFollowing are the subsidiary's financial statements (in CAD) for the most recent year The relevant exchange rates (:CAD) are as follows:

a. Translate the subsidiary's income statement, statement of retained earnings, balance sheet, and statement of cash flows into SUS (assume that the BOY Retained Earnings is 5676,636) Round all answers in the "in US Dollarscolumn to the nearest dollar

**I got most of thr question correct just need the few parts in the balance sheet that I got wrong. Thanks

Translation of financial statements Assume that your company owns a subsidiary operating in Canada. The subsidiary maintains its books in the Canadian Dollar (CAD) as its functional currency. Following are the subsidiary's financial statements (in CAD) for the most recent year The relevant exchange rates (CAD) are as follows: BOY rate 50.79 EOY rate 50.89 Ave rate $0.82 PPE purchase date rate SOBO LID borrowing date rate 508 Didend rate 50.84 Historical rate (common stock and APIC) 50.69 For both parts a and b, below, use a negative sign with answers to indicate a reduction For both parts a and b. below, use a negative sign with answers to indicate a reduction a. Translate the subsidiary's income statement, statement of retained earnings, balance sheet, and statement of cash flows into $US (assume that the BOY Retained Earnings is $676,636). Round all answers in the "in US Dollars" column to the nearest dollar. Translation In Income Statement: In CADS Rate US Dollars Sales 1,650,000 $ 0.82 $ 1,353,000 Cost of goods sold (990,000) $ 0.82 (811,800) Gross profit 660,000 541,200 Operating expenses (429,000) $ 0.82 (351,780) Net income 231,000 $ 189,420 Statement of Retained Earnings: BOY ret. earnings 866,250 $ 676,636 Net income 231,000 189,420 Dividends (23,100) 0.84 (19,404) EOY ret. earnings 1,074,150 846,652 Balance Sheet: $ Assets $469,590 $ 382,800 $ 491,700 5 909,480 5 $2,253,570 0.85$ 399,152 0.85 325,380 0.85 417.945 0.85 773,058 $ 1,915,535 Cash Accounts receivable Inventory Property, plant, and equipment (PPE), net Total assets Liabilities and stockholders' equity Current liabilities L-T liabilities Common stock MAIS 0.82 X 5 $279,840 652,080 0.83 x 0.69 232,267 X 541,226 x 75,900 110,000 Assets 0.85$ 0.85 $469,590 $ 382,800 $ 491,700 $ 909,480 $ $2,253,570 399,152 325,380 417,945 0.85 0.85 773,058 $ 1,915,535 $279,840 652,080 110,000 137,500 1,074,150 0.82 X $ 232,267 x 0.83 X 541,226 x 0.69 75,900 0.69 94,875 846,652 106,424 x $ 1,897,345 x $2,253,570 Cash Accounts receivable Inventory Property, plant, and equipment (PPE), net Total assets Liabilities and stockholders' equity Current liabilities L-T liabilities Common stock APIC Ret. earnings Cumulative translation adjustment Total liabilities and equity Statement of Cash Flows: Net income Change in accounts receivable Change in inventories Change in current liabilities Net cash from operating activities Change in PPE, net Net cash from investing activities Change in long-term debt Dividends Net cash from financing activities Net change in cash Effect of exchange rate on cash Beginning cash Ending cash 0.82 $ 0.82 0.82 0.82 $231,000 (63,800) (81,950) 46,640 131,890 (84,480) (84,480) 108,680 (23,100) 85,580 132,990 0.83 189,420 (52,316) (67,199) 38,245 108,150 (70,118) (70,118) 90,204 (19,404) 70,800 108,832 24,406 265,914 399,152 0.83 0.84 0.79 336,600 $469,590 0.85

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