A wholly owned subsidiary of Ward Inc. has certain expense accounts for the year ended December 31, 2017, stated in local currency units (LCU) as follows:
_________________________________________________________________LCU
Depreciation of equipment (related assets were purchased January 1, 2015)......120,000
Provision for doubtful accounts............................................................80,000
Rent..........................................................................................200,000
The exchange rates at various dates are as follows:
_______________________________________Dollar Equivalent of LCU
12/31/17.................................................................$0.40
Average for year ended 12/31/17.....................................0.44
1/1/15.....................................................................0.50
Assume that the LCU is the subsidiary's functional currency and that the charges to the expense accounts occurred approximately evenly during the year.
Required:
What total dollar amount should be included in Ward's 2017 consolidated income statement to reflect these expenses?