Do It Company Work paper to Translate Account Balances of Foreign Sabsidiary Statement of income and Adjusted alr3ranslation rat-1 December 31,2018 Adjusted trial balance ( USS -alancetuss) retained earnings balance ( Frane) Revenues 180,000 Operating expenses 135,000 45,000 45,000 30,000 60,000 Net income Retained earnings 1/1 Dividends declared and paid Retained earnings 3 1/12 Balance sheet Cash Accounts receivable Plant and equipment ( net) Land 33,000 49,500 67,500 45,000 195,000 Total assets 18,000 27,000 90,000 Accounts payable Long-term notes payable Common stock 60,000 Retained earnings 31/12 Cumulative translation adjustments Total liabilities and Equity195,000 Question Four (Twelve Marks ntroller of Do It Corporation, a U.s, parent Company, asked you as a staff translate the owned subsidiaries, member in the accounting department to complete the below work paper to foreign financial statements of Melody Corporation, one of the wholly using the current rate method. The subsidiary is located in Switzerland. The formal request of the financial controller includes the following information that you need to complete your task 1. Dividends were declared and paid by the subsidiary on December 10. 2. Sales were earned and operating expenses were incurred evenly during the year. 3. Exchange rates for the franc at various dates are: Date Exchange rate January 2, 2018 December 10, 2018 December 31, 2018 $0.8600 $0.8810 $0.8830 $0.8715 Average for 2018