AutoSave CH H e 2 Excel Christopher Alan Ritch (caritch) CA N File Home Insert Page Layout Formulas Data Review View Help Search Share Comments 110 x v for AB 1 The OUI Company is a French Subsidiary of an American Company, YES 2 3 Below is the financial statements for 2020 These statements are in Euros but following U.S. GAAP Balance Sheet Income Statement Cash 100,000 revenue 200,000 accounts rec 100,000 salary exp - 40000 equipment 100,000 dep exp bldg -30000 a/d equip -30,000 dep exp equip -10,000 building 100,000 gain sale land 40000 a/d bldg -40000 net income 160,000 total assets 330,000 Other information: EURO START | RUNNING TERMINATE es # 2 + 140% Type here to search O e N - ENG 8:27 PM INTL 4/28/2020 ? A . 2 AutoSave CH 9 A Christopher Alan Ritch(caritch) C - X Comments File Home Insert Page Layout Formulas Data Review View Help Search Share 110 x v for net income 160,000 total assets 330,000 Other information: accounts pay 100000 when YES Company purchased OUI Company stock 1 euro = $1.25 when OUI Company purchased equipment 1 euro = $1.15 200000 when OUI company purchased building 1 euro = $1.20 re 30000 when OUI Company paid a 150,000 dividend 1 euro = $1.31 when OUI Company sold the land 1 euro = $1.22 On 12/31/2019 retained earnings in dollars $42000 Average exchange rate during 2020 1 euro = $1.27 12/31/2020 spot rate: 1 euro = $1.24 23 REQUIRED: WHEN THE DOLLAR IS THE FUNCTIONAL CURRENCY OF OUI COMPANY CONVERT THE STATEMENTS INTO DOLLARS 25 cd DOLLAR EURO START RUNNING TERMINATE es # 2 Type here to search O e N - + 140% ENG 8:27 PM INTL 4/28/20202