A 100 percentowned foreign subsidiarys trial balance consists of the accounts listed as follows. Which exchange ratecurrent, historical, or averagewould be used to translate these accounts to parent currency assuming that the foreign currency is the functional currency? Which rates would be used if the parent currency were the functional currency?

Trial Balance Accounts
Cash	Common stock
Marketable securities (cost)	Premium on common stock
Accounts receivable	Retained earnings
Inventory (market)	Sales
Equipment	Purchases
Accumulated depreciation	Cost of sales
Prepaid expenses	General and administrative expenses
Goodwill	Selling expenses
Accounts payable	Depreciation
Due to parent (denominated in dollars)	Amortization of goodwill
Bonds payable	Income tax expense
Income taxes payable	Intercompany interest expense
Deferred income taxes