Boston Company organized and began operating a subsidiary in a foreign country on January 1, 2015, by investing LCU 42,000. This subsidiary immediately borrowed LCU 105,000 on a five-year note with 5 percent interest payable annually beginning on January 1, 2016. The subsidiary then purchased for LCU 147.000 a building that had a 10- year anticipated life and no salvage value and is to be depreciated using the straight-line method. Also on January 1, the subsidiary rents the building for three years to a group of local doctors for LCU 3,000 per month. By year-end, payments totaling LCU 30,000 had been received. On October 1, LCU 2,500 was paid for a repair made on that date. The subsidiary transferred a cash dividend of LCU 4,000 back to Boston on December 31, 2015. The functional currency for the subsidiary is the LCU. Currency exchange rates for 1 LCU follow: $ 2.201LCU 1.90 = 1 January 1, 2015 October 1, 2015 Average for 2015 December 31, 2015 2.00 1 1.80 = 1 Prepare an income statement, statement of retained earnings, and balance sheet for this subsidiary in LCU and then translate these amounts into U.S. dollars. (Amounts to be deducted should be indicated by a minus sign.) BOSTON COMPANY SUBSIDIARY Income Statement For the Year Ended December 31, 2015 LCU U.S. Dollars BOSTON COMPANY SUBSIDIARY Statement of Retained Earnings For the Year Ended December 31, 2015 LCU U.S. Dollars Retained earnings, 1/1 Retained earnings. 12/31 BOSTON COMPANY SUBSIDIARY Balance Sheet December 31, 2015 LCU Dollars US Assets: Total assets Liabilities and Equities Total liabilities and equities