F 5 9 10 11 CLICK HERE TO SAVE YOUR WORK A180 A NM PROBLEM #1 B D B S COMPANY TRAIL BALANCE AT DEC 31, 2019 Overline Merge Call 3-Row set Column DC Delete Row 12 Cost of Goods Sold EUR 45,000 Code Rate USD 13 Salaries Expense 5,750 14 Depreciation Expense 2,500 15 Other Expenses 7.500 16 Dividends (declared on Ju 750 17 Cash 2,500 18 Accounts Receivable 8,500 19 Inventory 7,500 20 Land 4,500 21 Buildings & Equipment 26,250 22 Total Debits 23 24 H INFORMATION S Company is a Fre S Company has a l S's trial balance for Additional inform S Company was S Company was S Company's b The items in in At the beginnin Historical rate Exchange bet Date Jan 1 2018 25 Sales 70,500 Jan 1 2019 26 Accounts Payable 5,000 Mar 1 2019 27 Interest payable 250 May 1 201 28 Mortgage Payable 2,500 29 Taxes payable 7,500 30 Common Stock 20,000 31 Retained earnings 5,000 32 Total Credits: Jul 1 2019 Sept 1 20 Nov 1 20 Dec 31 2 2019 av 33 34 35 36 REQUIRED: Sheet1 New... Ma INFORMATION S Company is a French subsidiary of a US Company. S Company has a Dec 31 year end. S's trial balance for the year ending Dec 31, 2019 is given. Additional information is as follows: S Company was incorporated on Jan 1, 2018. S Company was acquired by the US company on Jan 1, 2019. S Company's land and depreciable assets were acquired on May 1, 2019. The items in inventory at Dec 31, 2019 were purchased on Nov 1, 2019. At the beginning of 2019, S's balance in Retained Earnings stated in USD was 2,100 Historical rate Cost of Goods Sold for 2019 stated in USD was $1.22 Exchange between the EUR and the USD for are given below. 0 Date Jan 1 2018 Jan 1 2019 1 EUR = $1.26 1 EUR = $1.35 Mar 1 2019 1 EUR = $1.30 May 1 2019 1 EUR = $1.25 Jul 1 2019 1 EUR = $1.19 Sept 1 2019 1 EUR = $1.00 Nov 1 2019 1 EUR = $1.07 Dec 31 2019 1 EUR = $1.15 2019 average 1 EUR = $1.20 36 REQUIRED: 37 1-Complete the translation worksheet using the Remeasurement Method. 38 2-Below the worksheet provice S's translated Income Statement in the space provided. 39 NOTE: ONLY the Income Statement is required; not the other statements. 40 S COMPANY INCOME STATEMENT (in USD) FOR THE YEAR ENDED DEC 31, 2019 41 42 43 44 45 46 47 48 49 50 51 52 53