Complete the following worksheet, assuming that on January 1, 20X1, Weiss Corporation purchased Rock Corporation. Rock's functional currency is the FC. Date Relevant Exchange Rates January 1, 20X1 1 FC = $0.25 January 1, 20X4 1 FC = $0.30 March 31, 20X4 1 FC = $0.40 December 31, 20X4 1 FC = $0.50 Weighted average 20X4 1 FC = $0.37 Rock Corporation For the Year Ended December 31, 20X4 FC Rate Dollars Income Statement Net sales FC 2,000,000 $ Costs and expenses 800,000 Net income FC 1,200,000 $ Statement of Retained Earnings Retained earnings, beginning of year FC 6,500,000 $1,300,000 Net income 1,200,000 Subtotal FC 7,700,000 $ Dividends (declared on March 31) 1,000,000 Retained earnings, end of year FC 6,700,000 $ Balance Sheet Assets: Current assets FC 3,000,000 $ Plant assets (net) (purchased January 1, 20X1) 55,000,000 Total assets FC 58,000,000 $ Liabilities and Stockholders' Equity: Current liabilities FC 4,000,000 $ Long-term debt 25,000,000 Common stock (issued January 1, 20X1) 5,000,000 Paid-in capital in excess of par 17,300,000 Retained earnings 6,700,000 Cumulative translation adjustments Total liabilities and stockholders' equity FC 58,000,000 $