Group Exercise 1: Translation On 1/2/X7, Padre Corp. (a U.S. based company) formed a new subsidiary in Honduras, Sucursal Inc., with an initial investment of 150,000 Honduras Lempiras (HNL). Assume Sucursal: Purchases inventory evenly throughout 20X7 The ending inventory is purchased 11/30/X7. Uses straight-line depreciation on fixed assets Declares and pays dividends on 11/30/X7. Purchased the fixed assets on 4/1/X7. Uses Lempiras as the functional currency. REQUIRED Prepare a schedule to translate Sucursal's financial statements on 12/31/X7 to U.S. dollars. Group Exercise 1: Translation 33000 1/2 X7 0.0553 Accounts Receivable 60.000 0.0550 160000 1130 X7 0.0535 Note Rece nable 1231 0.0532 0.0545 Avera Cost of Goods Sad 160.000 Depreciation Expense 10,000 Other Expenses Dmidends 80.000 Debit 360.000 Accumulated Depreciatian Monta Payable 130.000 Common Stock es 3 330.000