ALL 30 7 International Accounting MINU Business School O 186, 00 Liabilities Capital stock 50, 000 216, 00 Retained earnings , 31 / 12 / 9'2 Total liabilities and stockholders " 452, 00 Equity The cruzeiro is the primary currency that Gramado uses in its day-to-day operations . The cruzeiro has steadily fallen in value against the dollar since Porto Alegre made the investment in Gramado on January 1 , Year 1 . Relevant exchange rates for the cruzeiro for Years 1 and 2 are as follows :" January 1 , Year 1 $0. 84 Average for Year 1 0. 80 December 31 , Year ] 0. 75 Average for Year 2 0. 72 December 1 , Year 2 0. 71 December 31 , Year 2 0. 70 Required : a . Translate Gramado Company's Year 2 financial statements into dollars