A Trinidadian-based Company Stephens Inc. acquired a 90% equity interest in a Jamaican-based Company Sang Co. Ltd. on January 1, 2010. The cost of the investment was equal to the book value of the interest acquired. Stephens Inc. accounted for the transaction as a purchase. The following set of financial statements was provided by the Jamaican subsidiary in Jamaican dollars.

Sang Co. Ltd

Statement of Comprehensive Income

For the year ended December 31, 2017

Sales	$6,000,000
Cost of sales	($1,000,000)
Gross profit	$5,000,000
Depreciation	($400,000)
Other expenses	($4,500,000)
Net operating income	$100,000
Gain on the sale of investments	$300,000
Income taxes	($110,000)
Net income	$290,000

Sang Co. Ltd

Statement of Financial Position

December 31, 2016, and 2017

	2016	2017
Assets
Current Assets
Cash	$30,000	$40,000
Marketable Securities	$50,000	$50,000
Accounts Receivable	$100,000	$95,000
Inventory	$20,000	$25,000
Total current assets	$200,000	$210,000
Investments	$100,000	$60,000
Fixed Assets
Land	$500,000	$500,000
Building	$5,000,000	$5,900,000
Equipment	$1,000,000	$1,100,000
Accumulated depreciation	($1,600,000)	($2,000,000)
Total Assets	$5,200,000	$5,770,000
Liabilities and Owners’ Equity
Current liabilities
Accounts Payable	$60,000	$70,000
Dividends Payable	$30,000	$50,000
Current portion of Long term debt	$100,000	$130,000
Total	$190,000	$250,000
Long term debt	$4,200,000	$4,370,000
Capital stock	$500,000	$600,000
Retained earnings	$310,000	$550,000
Total	$5,200,000	$5,770,000

Sang Co. Ltd was incorporated on January 1, 1990, when all the plant and equipment were acquired. The long-term notes were issued to partly finance the purchase of the fixed assets.

Direct exchange rates for J$1

January 1, 1990	T&T$0.50	Average for 2017	T&T $0.44
January 1, 2010	T&T $0.55	Average for November – December 2016	T&T $0.46
December 31, 2016	T&T $0.45	Average for November – December 2017	T&T $0.42
December 31, 2017	T&T $0.40

The beginning inventory was acquired during the period November – December 2016 and the ending inventory was acquired during the period November – December 2017. Revenues and expenses were evenly incurred during the year.

Required:

Translate the December 31, 2017 account balances of Sang Co. Ltd in T&T dollars using the temporal method.