a. Abercrombe Co., a U.S. firm, formed a German company in 2018 by purchasing the common stock of the newly formed Dolce Inc. The functional currency of Dolce is the euro. During their first three years, Dolce experienced the following activity in retained earnings: 2018 Net loss 500,000 euros 2019 Net income 1.000.000 euros January 1, 2020 Dividend 250,000 euros 2020 Net income 375,000 euros The following exchange rates could be relevant: Date 1 euro equal to December 31, 2017 $0.20 December 31, 2018 $0.22 Average 2018 S0.215 January 1, 2020 $0.245 Average 2019 $0.24 December 31, 2020 $0.26 Average 2020 $0.25 Required: What is the translated December 31, 2020, balance of the retained earnings for Dolce? b. Define the following: 1. Annual Report: 2. Social Responsibility Reporting: 3. Transfer Pricing: 4. Inflation Rate