2. A company is translating account balances from another currency into dollars for its December 31, 2016, statement of financial position and its calendar year 2016 earnings statement and statement of cash flows. The average exchange rate for 2016 should be used to translate:

a Cash at December 31, 2016 b Land purchased in 2016 c Retained earnings at January 1, 2016 d Sales for 2016