A US MNE has a Canadian subsidiary with the following Balance Sheet dated September 30, 2021. The spot exchange rate at reporting date was $0.80/CA$ while the historical exchange rate was $0.78/CA$. You are required to translate the companys balance sheet from the functional currency to the reporting currency clearly showing the translation gain or loss on the worksheet provided on the overleaf. Provide your workings for all translations on a separate attachment.

Amounts are reported in CA$ million	As at September 30, 2021
Assets
Current Assets
Cash	1,087
Account Receivable	3,134
Inventories	1,228
Materials	631
Total Current Assets	6,080
Investments	894
Property, Plant and Equipment (net)	34,238
Goodwill	186
Other Assets	531
Total Assets	41,929
Liabilities
Current Liabilities
Accounts Payable	3,985
Other Current Liabilities	228
Total Current Liabilities	4,213
Long-term Debt	4,968
Other Long-term Liabilities	7,726
Total Liabilities	16,907
Shareholders Equity
Common Stock	1,410
Retained Earnings	23,612
Total Shareholders Equity	25,022
Total Liabilities and Shareholders Equity	41,929

Amounts are reported in US$ million	As at September 30, 2021
Assets
Current Assets
Cash
Account Receivable
Inventories
Materials
Total Current Assets
Investments
Property, Plant and Equipment (net)
Goodwill
Other Assets
Total Assets
Liabilities
Current Liabilities
Accounts Payable
Other Current Liabilities
Total Current Liabilities
Long-term Debt
Other Long-term Liabilities
Total Liabilities
Shareholders Equity
Common Stock
Retained Earnings
Translation Gain/(Loss)
Total Shareholders Equity
Total Liabilities and Shareholders Equity