15 points On January 2, 2020. Parliament Corporation, a U.S. multinational enterprise, acquired all the outstanding common stock of Sirius Company, which is located in a country whole currency is the British pound (). The British pound is the functional currency of Sirius For 2020, exchange rates for the British pound were as follows: 1 Jan 2 $1.20 Dec. 31 $1.40 Average for the year $1.30 Required: Translate the 2020 financial statements of Sirius Company to U.S. dollars from British pound (Round numbers to the nearest dollar), SIRIUS COMPANY Translation of Financial Statements to U.S. Dollars For Year Ended December 31, 2020 E Exchange Rate US Dollars Income Statement $ 100.000 76923 Net sales $ 61539 180.000) Costs and expenses 15384 20,000 Not income Statement of Retained Earnings 72.727 80.000 Retained earnings, beginning of year 18182 20.000 Net Income 100,000 Subtotal MacBook Pro Dividends declared and paid 110.000 Retained earning, and of your Balance Sheet Assets 90.000 5 Current assets 130 000 Plant assets (et) $20.000 5 Total assets Liabitis & Stockholders Equity 650.000 Current Habits 50 000 1 Long-term debt 40.000 Common stock 200 000 Additional pald.in capital 200 000 90.000 Retained wingo Tolles konsult 650.000 "Dies were declared and paid on Dec 31, 2020