16. Quadros Inc., a Portuguese firm was acquired by a U.S. company on January 1, 2010. Selected account balances are available for the year ended December 31, 2011, and are stated in euro, the local currency Sales Inventory (bought on February 1, 2011) Equipment (bought on January 1, 2010) Dividends (paid on September 1, 2011) Accumulated depreciation -Equipment 12/31/11 Depreciation expense - Equipment, 2011 400,000 20,000 90,000 20,000 45,000 9,000 Relevant exchange rates for 1 euro are given below January 1, 2010 January 1, 2011 February 1, 2011 September 1, 2011 December 3, 2011 4th quarter average, 2010 4h quarter average, 2011 Average, 2011 $ 91 .93 94 97 1.01 90 98 95 Assume the functional currency is the euro, compute the U.S. statement of retained earnings amount for dividends for 2011 O $19,000 O $20,200 O $18,600 O $19,400 O $19,600