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Corporation invested $ 4 2 , 0 0 0 in Tampa Education Center Corporation s capital stock. Given the exchange rate on that date of

Corporation invested $42,000 in Tampa Education Center Corporations capital stock. Given the exchange rate on that date of $0.84 per cruzeiro, the initial investment of $42,000 was converted into 50,000 cruzeiros (Cz). Other than the capital investment on January 1, there were no transactions involving stockholders equity in Year 1. Tampa Education Center Corporations cruzeiro-denominated financial statements for Year 2 are as follows:

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