b) Using the temporal method and the below information in francs, translate the below income statement into USD Sales Cost of Goods sold300,000 Operating expense =90,000 Depreciation Income tax = 500,000 - 10,000 35,000 Beginning Inventory100,000 Purchases : 500,000 Ending Inventory 300,000 Current rate Average rate Historical rate 0.70 - 0.75 - 0.65 francs f/x rate USD Sales Cost of Goods sold Gross profit Operating expense Depreciation Income before tax Income taxes Net income