5 Paragraph Select Styles Ceale and Share Net Adobe POF Sgras Adobe Anbat Editing Vante 2. Lancer, Inc. (a U.S.-based company), establishes a subsidiary in Croatia on January 1, 2019. The following account balances for the year ending December 31, 2020, are stated in kuna (K), the local currency: Sales K 380,000 Inventory (bought on 3/1/20) 209,000 Equipment (bought on 1/1/19) 96,000 Rent expense 24,000 Dividends (declared on 10/1/20) 32,000 Notes receivable to be collected in 2023) 54,000 Accumulated depreciation equipment 28,800 Salary payable 8,600 Depreciation expense 9, 600 The following U.S.S per kuna exchange rates are applicable: January 1, 2019 Average for 2019 January 1, 2020 March 1, 2020 October 1, 2020 December 31, 2020 Average for 2020 50.37 0.30 0.42 0.43 0.95 0.46 focus 64FAB do CP Font Create and Share Request Adobe PDF Signature Adobe Acrobat Styles 5 Editing Find - AaBbccDc AaBbcc AaBbc AaBbcc A-D-A- 1 Normal No Space Heading Replace Heading 2 Select- Paragraph Lancer is preparing account balances to produce consolidated financial statements. a. Assuming that the kuna is the functional currency, what exchange rate would be used to report each of these accounts in U.S. dollar consolidated financial statements? b. Assuming that the U.S. dollar is the functional currency, what exchange rate would be used to report each of these accounts in U.S. dollar consolidated financial statements? 645 o te Search Adobe PDF Styles Editing Adobe (For all requirements, round your answers to 2 decimal places.) a. Account Exchange Rate Sales Inventory Equipment Rent expense Dividends Notes receivable Accumulated depreciation-equipment Salary payable Depreciation expense b.Sales Inventory Equipment Rent expense Dividends Notes receivable Accumulated depreciation--equipment Salary payable epreciation expense Tout o te earch