12. Simga Company's Turkish subsidiary reponted the following amounts in Turkish lin (TL) on its December 31 , Year 4 , balance sheet: Equipment ..................... Additional information related in is Required: a. Assume that Turkey is a highly inflationary economy. Determine the amounts at which the Turkish subsidiary's equipment and accumulated depreciation should be carried on Simga Company's December 31, Year 4, consolidated balance sheet in accordance with U.S. GAAP. Determine the net carrying amount for equipment. b. Now assume that Turkey is nol a highly inflationary economy and that the Turkish subsidiary primarily uses Turkish lira in conducting its operations. Determine the amounts at which the Turkish subsidiary's equipment and accumulated depreciation should be carried on Simga Company's December 31, Year 4, consolidared balance sheet in accordance with U.S. GAAP. Determine the net cartying amount for equipment 12. Simga Company's Turkish subsidiary reponted the following amounts in Turkish lin (TL) on its December 31 , Year 4 , balance sheet: Equipment ..................... Additional information related in is Required: a. Assume that Turkey is a highly inflationary economy. Determine the amounts at which the Turkish subsidiary's equipment and accumulated depreciation should be carried on Simga Company's December 31, Year 4, consolidated balance sheet in accordance with U.S. GAAP. Determine the net carrying amount for equipment. b. Now assume that Turkey is nol a highly inflationary economy and that the Turkish subsidiary primarily uses Turkish lira in conducting its operations. Determine the amounts at which the Turkish subsidiary's equipment and accumulated depreciation should be carried on Simga Company's December 31, Year 4, consolidared balance sheet in accordance with U.S. GAAP. Determine the net cartying amount for equipment