Assume that our subsidiary's income statement in Euros {) is reported as follows for the year: Income statement: In Euros [ Sales 1.500.000 Cost of goods sold [900,000] Gross Protit 600,000 Operating expenses 90 000 Net income 210 000 Also assume the following exchange rates: m BOY Rate $1.40 EOY rate $1.50 Avg. rate $1.45 Required: Translate the income statement into $US using the currentrate method