7. The following information is the consolidated balance sheet from Xenon, Inc. (Nether- lands) 2008 annual report. Assume that all assets were acquired on January 1,2008. January 1, 2008 Average for 2008 December 31, 2008 General price-level index 100 103 108 Using the information given above, adjust Xenon's 2008 balance sheet for inflation using the GPLA model. What is Xenon's GPLA basis retained earnings balance in millions of Euros? Xenon Consolidated Balance Sheet in millions of Euro) Year end December 31, 2008 Assets Equity and liabilities: Cash and cash equivalents Accounts receivables Prepaid expenses Inventory Supplies Equipment Less: Accumulated dep 13,680 6,530 21,500 7,000 1,500 Accounts payable 18,740 Accrued liabilities 500 Bank loan payable 11,410 Bonds payable 200 5,500 Owner's equity: (6,000) Paid-in capital 10,000 3,140 61,850 Total equity and liabiis 61,850 Retained earnings Total assets