Exchange rates are:
	Dollars	Swiss Francs
	per Swiss Franc	per Dollar
1-Jan-21	$0.8000	SF 1.2500
31-Dec-21	$0.8300	SF 1.2048
Average for 2021	$0.8250	SF 1.2121
Dividend declaration and payment date	$0.8200	SF 1.2195
Worksheet. For Swiss Franc as the functional currency.
	Swiss			Exchange		U.S.
Income Statement - 2021	Francs			Rate		Dollars
Revenue	100,000
Operating expenses: depreciation	-5,000
Operating expenses: other	-25,000
Net income	70,000
Statement of Changes in Retained Earnings
Retained earnings, 1/1/21	10,000
Net income	70,000
Dividends	-15,000
Retained earnings, 12/31/21	65,000
Balance Sheet, - 12/31/21
Cash and receivables	45,000
Net property, plant, equipment	72,000
Total assets	117,000
Accounts payable	38,000
Common stock	14,000
Retained earnings	65,000
	117,000
Cumulative translation adjustment
Total liabilities and equity	117,000

Flag question: Question 35

Question 352.5 pts

What are total assets in U.S. dollars when the functional currency is the Swiss Franc?

Group of answer choices

$96,525

$97,110

$141,816

$94,950

Flag question: Question 36

Question 362.5 pts

What is depreciation expense in U.S. dollars when the functional currency is the Swiss Franc?

Group of answer choices

$4,125

$6,250

$4,000

$6.061

Flag question: Question 37

Question 372.5 pts

What are total seets in U.S. dollars when the functional currency is the U.S. dollar?

Group of answer choices

$94,950

$97,110

$93,600

$96,525