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Sendelbach Corporation is a U.S.-based organization with operations throughout the world. One of its subsidiaries is headquartered in Toronto, Canada. Although this wholly-owned subsidiary operates primarily in Canada, it engages in some transactions through a branch in Mexico. Therefore, the subsidiary maintains a ledger denominated in Mexican pesos (Ps) and a general ledger in Canadlan dollars (CS). As of December 31, 2024, the subsidiary is preparing financial statements in anticipation of consolidation with the U.S. parent corporation. Both ledgers for the subsidiary are as follows: - The Canadian subsidiary's functional currency is the Canadian dollar, and Sendelbach's reportingicurrency is the U.S. dollar. The Canadian and Mexican operations are not viewed as separate accounting entities. - The bulling and equipment used In the Mexican operation were acquired in 2014 when the currency exchange rate was c $0.21= Ps 1 . - Purchases of inventory were made evenly throughout the fiscal year: - Beginning inventory was acquired evenly throughout 2023; ending inventory was acquired evenly throughout 2024. - The Main Office account on the Mexican records should be considered an equity account. This balance was remeasured into C\$7,090 on December 31, 2024. - Currency exchange rates for 1 Ps applicable to the Mexican operation follow: - The December 31,2023 , consolidated balance sheet reported a cumulative translation adjustment with a $40,950 credit (positive) balance. - The subsidiary's common stock was issued in 2011 when the exchange rate was $0.45= c $1. - The subsidiary's December 31,2023 , retained earnings balance was C$139.590, an amount that has been translated into US\$68,103. - The applicable currency exchange rates for 1C$ for translation purposes are as follows: Required: 0. Remeasure the Mexican operation's account balances into Canadian dollars. (Note: Back into the beginning net monetary asset or lability position.) b. Prepare firancial statements (income statement, statement of retained earnings, and balance sheet) for the Canacilan subsidiary in its functional currency, Canadian dollars. c. Transtate the Canadlan dollar functional currency financlal statements into US. dollars so that Sendelbach can prepare consolidated financial statements. Remeasure the Mexican operation's account balances into Canadlan dollars. (Note: Back into the beginning net monetary asset or liability position.) Note: Input all amounts as positive values. Note: Round U.S. Dollar values to 2 decimal places. Amounts to be deducted and losses should be indicated with a minus sign. Assets

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