Ginvold Co. began operating a subsidiary in a foreign country on January 1, 20X1 by acquiring all of the common stock for 50,000 stickles, the local currency. This subsidiary immediately borrowed 120,000 on a 5-year note with 10% interest payable annually beginning on January 1, 20X2. A building was then purchased for 170,000 on January 1, 20X1. This property had a 10-year anticipated life, and no salvage value and was to be depreciated using the straight-line method. The building was immediately rented for 3 years to a group of local doctors for 6,000 per month. By year-end, payments totaling 60,000 had been received. On October 1, 5,000 were paid for a repair made on that date, and it was the only transaction of this kind for the year. A cash dividend of 6,000 was transferred back to Ginvold at December 31, 20X1. The functional currency for the subsidiary was the stickle (). Currency exchange rates were as follows.

January 1, 20X1	1 = $2.40
October 1, 20X1	1 = $2.22
December 31, 20X1	1 = $2.16
Average for 20X1	1 = $2.28

Required: (A) Prepare an income statement for this subsidiary in stickles. (B) Translate these amounts into U.S. dollars.