Translation of Foreign Balance Sheets The translated balance sheets of Lumpo Mining Company at January |, 2000, and December 31, 2000, are as follows:

The burm (BR) is the currency for the country in which Lumpo Mining Company is located. Relevant exchange rates are as follows:

a. What number of burms did Lumpo Mining have on hand at December 31, 2000?

b. Did the number of burms held by Lumpo Mining increase or decrease in 2000? By what amount?

c. What number of burms did Lumpo Mining receive on December 31, 2000, when it issued additional bonds?

d. What number of burms did Lumpo Mining receive when its stock was issued?

e. Assuming Lumpo paid no dividends in 2000, what was its net income for 2000 stated in U.S. dollars?

f. Assuming Lumpo paid no dividends in 2000, what was its net income for 2000 stated in burms?

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Lumpo Mining Company Balance Sheets January 1 and December 31, 2000 Jan. 1, Dec. 31, 2000 2000 Cash $ 42,000 $ 90,000 Accounts receivable 108,000 198,000 Inventory 120,000 153,000 Buildings and equipment (net) 240,000 450,000 Total assets $510,000 $891,000 Accounts payable $ 30,000 $ 54,000 Bonds payable 90,000 180,000 Common stock 150,000 150,000 Retained earnings 140,000 200,000 Cumulative translation adjustment 100,000 307,000 Total liabilities and owners' equity $510,000 $891,000