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3. PAA, US corporation acquired all outstanding capital stock of SAA Germany on 1 January 2020 for $63,000, when the exchange rate for Euro was

3. PAA, US corporation acquired all outstanding capital stock of SAA Germany on 1 January 2020 for $63,000, when the exchange rate for Euro was EUR1.2 and SAA equity consisted of EUR40,000 capital stock and EUR10,000 retained earnings. SAA functional currency is the Euro.

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