Blanks (5) and (6) should have the same number. How much is it? Numeric ResponseBlanks (7) and (8) should have the same number. How much is it? Numeric Response\fExchange Kate KateUSD USU Sales ations should 3,000,000 0.64 A burved 1,920.000 sharlog of Cost of Goods Sold this material (2,000.000) 0.64 APosting this mater_(1,280.000)meric Gross Profit Violation of mi 1,000,000 na Hoected violations what 640,000 courted to Depreciation Expense 10. Unpatronize (35,000) 0.62 H SeminaBon of thi (21,700) Amortization Expense he material on (25,000) 0.58 H (14,500) should be Other Expenses (110 000) 0.64 A (70 400) material Income Before Taxes non of my in 830,000 n/a 533,400 petted Molabuns italic Income Taxes (249.000) 0.64 A ofation of (159,360) Currency Exchange Gain/Loss 0 na (plug-in) 19:340 (9) 7 Net Income 581,000 n/a (below) Wired Uni 384,380 (8) ? websites Retained Earnings, 1/lion 100,000 0.64 (given) 64.000 th Net Income this material on 581,000 n'a (plug-in) 384.380 (7) ? Wolated! Youed be Dividends (150.000) 0.67 H (100 500) Retained Earnings, 12/31 531,000 n/a (below) 347 860 (6) 7 Assets ted. Posture thicluster CHF Exchange Rate USDAr Cash red Voition towin 121,000 068 C thurado nal 82,280 para- or Accounts Receivable 100,000 0.68 C material 68,000 Comment Inventory (evenly acquired this tig year) 288,000 our Unsuithall 450000 0.64 A Property and Equipment material or 1,000,000 0.62 H 620,000 Accumulated Depreciation 50 6 _ (120.000) 0.62 H (74.400) Total Assets of this material 1,551,000 n'a 983,880Accounts Receivable 100,000 0.68 C Inventory (evenly acquired this year) 450000 0.64 A 286,000 Property and Equipment 1,000,000 062 H 620.000 Accumulated Depreciation (120,000) 0.62 H (74 400) Total Assets Col UMB 1.551,090 wasd Postin 983,880 CHUtings Himy Liabilities and Equity Accounts Payable 500,000 0 68 C 340.000 Long-term Debt 200,000 068 C 136,000 Common Stock 100.000 0 50 (1) 0.52 $0 000 (2)52,000 Additional PIC 220,000 0 50 H (310.52 140,090 (4)114,400 Retained Femings 12/31 531,000 n plug-in 347-860 (5).7 OCI Cumulative Trans Adj Total Liabilities and Equity 1551,000 n'a (Total Assen) 983 850 What is the amount in blank (9)? Numeric ResponseThis problem is adapted from our Chapter 10 exercise on the temporal method. Specifically, I have made a change to the initial exchange rate on the formation date of the subsidiary (from 0.50 to 0.52). Please update the worksheet accordingly following this change, ensuring to answer the specified blanks with clear labels. oring 1/1/2010: Subsidiary was formed; Ex. Rate was 9.50-0.52. 1/1/2015; Exchange rate was 0.60 4/1/2015: Property was purchased; Ex. Rate was 0.62 4/15/2015: All the long-term debt were incurred; Ex., Rate was 0.63, 10/1/2015: Dividends were declared; Ex. Rate was 0.67 12/31/2015: Exchange rate was 0.68 Avg. Rate for 2015: 0.64 Assumptions: amy copy on Revenue and cost of goods sold occurred uniformly throughout the year. Common Stock and APIC has remained constant since the establishment on 1/1/2010.. Patent is fully amortized, thus not listed in the balance sheet. The patent was secured on 1(1/2012, when the Exchange Rate was 0.59. Temporal Method do any commBIEN Updated Exchange ont the Updated CHE Exchange Rate Rate USD USD Sales 3,000,000 0.64 A 1,920,000 Cost of Goods Sold his rasterAll (2,000 000) 0 64 A (1,280.000) Gross Profit 1,000,000 n/ the 640,000