Alamo Inc. purchased 80 percent of the outstanding stock of Western Ranching Company, located in Australia, on January 1, 20X3. The purchase price in Australian dollars (A$) was A$200,000, and A$40,000 of the differential was allocated to plant and equipment, which is amortized over a 10-year period. The remainder of the differential was attributable to a patent. Alamo Inc. amortizes the patent over 10 years. Western Ranching's trial balance on December 31, 20X3, in Australian dollars is as follows: Credits Debits Cash A$ 44,100 72,000 Accounts Receivable (net) Inventory 86,000 Plant and Equipment 240,000 A$ 60,000 Accumulated Depreciation Accounts Payable 53,800 able to Alamo Inc 10,800 Interest Payable 3,000 12% Bonds Payable 100,000 Premium on Bonds 5,700 Common Stock 0,000 Retained Earnings 0,000 Sales 579,000 330,000 Cost of Goods Sold Depreciation Expense 24,000 Operating Expenses 131,500 Interest Expense 5,700 Dividends Paid 9,000 Total A$ 942,300 A$ 942,300 Additional Information: 1. Western Ranching uses average cost for cost of goods sold. Inventory increased by A$20,000 during the year. Purchases were made uniformly during 20X3. The ending inventory was acquired at the average exchange rate for the year. 2. Plant and equipment were acquired as follows: Date Cost A$ 180,000 January 20X1 January 1, 20X3 0,000