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.

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