An American Company, on Jan. 21, 2020 purchased a 100% interest in a subdivision located in Italy. Sales were earned and operating expenses were incurred evenly during the year. Exchange rates for the Euro at various dates are as follows:

01/01/20	1.12
12/31/20	1.25
Average for 2020	1.16
12/10/20 Dividends declared & Paid	1.24
2/25/2012	1.38
09/03/18	1.30

QUESTION: Translate the Year end Financial statement of the foreign subsidiary using the temporal method. ( round to nearest dollar.)

Balance Sheet	Euro	Exchange Rate	US $
Cash	125,000
A/R	212,000
P&E (net) bought 9/3/18	222,000
Land bought 9/3/18	275,000
Total Assets	834,000
A/P	210,000
Long term NP issued 9/3/18	111,000
Common stock issued 2/25/12	130,000
Retained Earnings	383,000
Total Liabilities & Equity	834,000
Income Statement
Revenues	420,000
Depreciation	(55,000)
Operating Exp. Exlcuding Dep.	(253,000)
Translation G/L
Net Income	112,000
Statement of Retained Earnings
Beg. Retained Earnings	323,000
Net Income	112,000
	435,000

	Euro	Exch. Rate	US $
Dividends Declared & Paid	(52,000)
Earned Retained Earnings	383,000