Assume that our subsidiary reports the following financial statements in Euros ():
	Subsidiary
	(in )
Income statement:
Sales	420,000
Cost of goods sold	-100,000
Gross Profit	320,000
Operating expenses	-75,000
Net income	245,000
Statement of retained earnings:
BOY retained earnings	725,000
Net income	245,000
Dividends	-24,000
Ending retained earnings	946,000
Balance sheet:
Assets
Cash	758,000
Accounts receivable	624,000
Inventory	200,000
PPE, net	1,213,100
Total Assets	2,795,100
Liabilities and Stockholders Equity
Current Liabilities	32,550
Long-term Liabilities	750,000
Common Stock	240,000
APIC	375,000
Retained Earnings	1,397,550
Total Liabilities & Equity	2,795,100
Also assume the following exchange rates ($:1):
	$1.30
BOY Rate
EOY rate	$1.36
Avg. rate	$1.33
PPE purchase date rate	$1.20
LTD borrowing date rate	$1.10
Dividend rate	$1.32
Historical rate (Common Stock and APIC)	$0.80
Required:
Translate the subsidiarys income statement and balance sheet into $US using the current-rate method, assuming a BOY Retained Earnings balance of $752,400.