(Learning Objective 4: Translating a foreign currency balance sheet into dollars)

Translate into dollars the balance sheet of Wyoming Leather Goods’ Spanish subsidiary. When Wyoming Leather Goods acquired the foreign subsidiary, a euro was worth €1.07. The current exchange rate is €1.31. During the period when retained earnings were earned, the average exchange rate was €1.19 per euro.

■ spreadsheet During the period covered by this situation, which currency was stronger, the dollar or the euro?