Livingston Company is a wholly owned subsidiary of Rose Corporation. Livingston operates in a foreign country with financial statements recorded in goghs (GH), the company's functional currency. Financial statements for the year 2017 are as follows:

Additional Information
∙ The common stock was issued in 2010 when the exchange rate was $2.08 per GH; property, plant, and equipment was acquired in 2011 when the rate was $2.00 per GH.
∙ As of January 1, 2017, the retained earnings balance was translated as $396,520.
∙ The U.S.$ per GH exchange rates for 2017 follow:
January 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1.67
April 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.61
September 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.72
December 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.54
Weighted average . . . . . . . . . . . . . . . . . . . . . . . 1.59
∙ Inventory was acquired evenly throughout the year.
∙ The December 31, 2016, balance sheet reported a translation adjustment with a debit balance of $85,000.
∙ Dividends were declared on April 1, 2017, and a piece of equipment was sold on September 1, 2017.
Assume that the gogh is Livingston Company's functional currency. Translate the 2017 foreign currency financial statements into the parent's reporting currency, the U.S. dollar.

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Income Statement For Year Ending December 31, 2017 Sales Cost of goods solo Gross profit Less: Operating expenses Galn on sale of equipment GH 270,000 (155,000) 115,000 (54,000) 10,000 GH 71,000 Net Income Statement of Retained Earnings For Year Ending December 31, 2017 Retained earnings, 1/1/17 Net Income Less: DIvidends GH 216,000 71,000 Retained earnings, 12/31/17 GH 261,000 Balance Sheet December 31, 2017 Assets Cash Recelvables GH 44,000 1 16,000 58,000 339,000 GH 557,000 Property, plant and equipment (net) Total assets Liabilities and Equities Liablities Common stock Retalned earnings, 12/31/17 GH 176,000 120,000 261,000 GH 557,000 Total Ilablilities and equities