Balance of payment exercise: Please recode all transactions in 2012 and 2013 balance of payment of the US and Germany: 1. BMW exported 20,000 cars ($60 million) annually to the US by 2012. 2. BMW invested $20 million to expand its manufacturing in the USA in 2012, namely BMW USA. 3. BMW USA purchased $2 million manufacturing equipments from suppliers in Japan, and $1 million testing equipments from suppliers in Germany in 2012. 4. The expanded manufacturing capacity is in place in 2013. In 2013, BMW's export to the US reduced to 10,000 cars ($30 million), and the other 10,000 cars ($30 million) were supplied by local BMW USA manufacturing. 5. BMW USA also exports 2,000 cars ($6 million) to Mexico, 5,000 cars ($15 million) to China each year. 6. BMW USA starts to export 1,000 cars ($3 million) to Germany annually since 2013. 7. BMW USA imports $1 million materials from Germany to support its production in 2013. 8. BMW USA repatriated $0.5 million profits to Germany in 2013. You may record transactions using this format below: US 2012 2013 German 2012 2013 You may complete the recording in an Excel file and copy the answers here.