Advanced Financial Accounting (Christensen, 1'2\"\" ed.) Chapter 12 Homework {Spring 2021) 1212-5, BIZ-6, 1212-7, and E12-8 Use the information in the textbook (page 668) about how WCompany (located in Switzerland) was created by Popular Creek Corporation (located in the U.S.A) with the following revisions. We December 31, 20 X1, trial balance in SFr: (revised) Debit Credit Additional Information: 1. None of the receivable is from Popular Creek. The accounts receivable reported is \"net.\" 2. Wbought 53,; 15,000 of inventory on January 1, 20 X1. Purchases of more inventory were made evenly during the year. Items in the ending inventory were purchased on November 1. (Show work for the temporal method below!) (Hint: For the temporal method, we need togure out the amount of inventory purchased by using \"Cost of goods sold = Beginning inventory + Purchases Ending inventory\". This is an extremely helpll calculation to help solve questions related to inventory!) . Wbought $100,000 equipment on March 1. Equipment is depreciated by the straight- line method with a 10-year USBJi life and no residual value. A full years depreciation is taken in the year of acquisition. The equipment reported is \"net.\" 4. No revision; dividends were declared and paid on November 1. S. No revisions to foreign exchange rates. Advanced Financial Accounting (Christensen, 12th ed.) Chapter 12 Homework (Spring 2021) N E 12-5 Since Swiss franc is the functional currency for SunTim (Le. S), Popular Creek (i.e. P) should use _ Current rate method Remeasurement (temporal) method (click one). Complete the following financial statements. LC FX Rate Code USD Income Statement (20X1) Net income Statement of Retained Earnings R/E (1/1/X1) R/E (12/31/X1) Balance Sheet (12/31/X1) Total assets Total SE Total Liabilities and SE E 12-6: Prove the amount of translation G/L in E12-5 without using worksheet. (Hint: Figure 12-6)