Accounts are listed below for a foreign subsidiary that maintains its books in its local currency. The equity interest in the subsidiary was acquired in a purchase transaction. In the space provided, indicate the exchange rate that would be used to translate the accounts into dollars assuming that the functional currency was identified $($a$)$ as the U$.$S$.$ dollar and $($b$)$ as the foreign entity$$s local currency. Use the following letters to identify the exchange rate:

H$$historical exchange rate

C$$current exchange rate

A$$average exchange rate for the current period

Exchange Rate if the Functional Currency Is:

Account

U$.$S$.$ Dollar

Local Currency

Cash

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Accounts receivable

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Inventory carried at cost

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Inventory carried at market

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Prepaid rent

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Property, plant, and equipment

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Goodwill

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Accounts payable

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Bonds payable

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Unamortized premium on bonds payable

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Preferred stock carried at issuance price

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Common stock

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Sales

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Cost of goods sold

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Depreciation expense

$\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$