1 A wholly owned subsidiary of Ward Inc. has certain expense accounts for the year ended December 31, 20X3, stated in local currency units (LCUS) as follows: LCU Depreciation of equipment 120,000 (related assets were purchased January 1, 20X1) Provision for doubtful accounts 80,000 Rent 200,000 The exchange rates at various dates are as follows: Dollar Equivalent of LCU December 31, 20X3 $0.40 Average for year ended December 31, 20X3 0.44 January 1, 20x1 0.50 Assume that the LCU is the subsidiary's functional currency and that the charges to the expense accounts occurred evenly during the year. Required: What total U.S. dollar amount should be included in Ward's 20X3 consolidated Income statement to reflect these expenses? Total amount 1.53 points eBook Print References