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Assume that the balance sheet and income statement of a French subsidiary, which keeps its books in euro, is translated into U.S. dollars, the reporting
Assume that the balance sheet and income statement of a French subsidiary, which keeps its books in euro, is translated into U.S. dollars, the reporting currency of the U.S. MNC.The table presents the balance sheet and income statement in euro.The subsidiary is at the end of its first year of operation.The historical exchange rate is $1.60/1.00 and the most recent exchange rate is $1.80/.Fill out the missing entries that translate the balance sheet and income statement for this French subsidiary using the Current/Noncurrent Method.
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