a) Alexander Corporation (a U.S based company) acquired 100 percent of a Swiss company for 8.2 million Swiss francs on January 1, Year 1. At the date of acquisition, the exchange rate was $0.70 per franc following assets and liabilities denominated in Swiss francs. c. The acquisition price is attributable to the Cash. 1,000,000 2,000,000 7,000,000 1,800,000 4,200,000 4,000.000 Inventory Non-current assets Capital Stock. Alexander Corporation prepares consolidated financial statements on December 31, Year 1. By the date, the Swiss franc appreciated to $0.75. The average rate for Year 1 was $0.73 a) What is the current rate? b) What is the historical rate? c) Using the current method, prepare a balance sheet in francs and USD. b) Using the temporal method and the below information in francs, translate the below income statement into USD. - 500,000 Cost of Goods sold Operating expense Depreciation Income tax 300,000 ,000 35,000 =90 - 10,000 Beginning Inventory 100,000 Purchases 500,000 Ending Inventory 300,000 Current rate Average rate Historical rate - 0.70 0.75 0.65 francs f/x rate USD Sales Cost of Goods sold Gross profit Operating expense Depreciation Income before tax Income taxes Net income