HELP
Assume that the balance sheet and income statement of a French subsidiary, which keeps its books in euro, is translated into U.S. dollars, the reporting currency of the U.S. MNC.The table presents the balance sheet and income statement in euro.The subsidiary is at the end of its first year of operation. The historical exchange rate is $1.60/1.00 and the most recent exchange rate is $2.00/.Fill out the missing entries that translate the balance sheet and income statement for this French subsidiary using the the Monetary/Nonmonetary Method, Solve Foreign Exchange gain (loss) Balance Sheet 1 Cash 2,100 $ 3,780 1.8 2 Inventory (current Value 1,500 $ 2,400 1.8 = 1,800) 3 Net fixed assets 3,000 $ 4,800 1.6 4 Total Assets 6,600 $ 10,980 MN4 5 Current liabilities 1.200 $ 2.160 MN5 6 Long-term debt 1,800 $ MNO 7 Common stock 2.700 $ MN7 8 Retained earnings 900 $ MN8 9 10 Total L&E 6.600 $ MN4 Income Statement 11 Sales Revenue 10,000 $ 17,778 12 7.500 $ 12.000 13 Depreciation 1,000 $ 1,600 14 NOI 1,500 $ MN14 15 Tax(40%) 600 $ MN15 16 Profit after tax 900 $ MN16 17 Foreign Exchange gain $ MN17 (loss) 18 Net income . 900 $ MN18 19 Dividends 0 $ 20 Addition to Retained 900 $ MN18 Earnings COGS Short Answer Toolbar navigation Us = = Ks Assume that the balance sheet and income statement of a French subsidiary, which keeps its books in euro, is translated into U.S. dollars, the reporting currency of the U.S. MNC.The table presents the balance sheet and income statement in euro.The subsidiary is at the end of its first year of operation. The historical exchange rate is $1.60/1.00 and the most recent exchange rate is $2.00/.Fill out the missing entries that translate the balance sheet and income statement for this French subsidiary using the the Monetary/Nonmonetary Method, Solve Foreign Exchange gain (loss) Balance Sheet 1 Cash 2,100 $ 3,780 1.8 2 Inventory (current Value 1,500 $ 2,400 1.8 = 1,800) 3 Net fixed assets 3,000 $ 4,800 1.6 4 Total Assets 6,600 $ 10,980 MN4 5 Current liabilities 1.200 $ 2.160 MN5 6 Long-term debt 1,800 $ MNO 7 Common stock 2.700 $ MN7 8 Retained earnings 900 $ MN8 9 10 Total L&E 6.600 $ MN4 Income Statement 11 Sales Revenue 10,000 $ 17,778 12 7.500 $ 12.000 13 Depreciation 1,000 $ 1,600 14 NOI 1,500 $ MN14 15 Tax(40%) 600 $ MN15 16 Profit after tax 900 $ MN16 17 Foreign Exchange gain $ MN17 (loss) 18 Net income . 900 $ MN18 19 Dividends 0 $ 20 Addition to Retained 900 $ MN18 Earnings COGS Short Answer Toolbar navigation Us = = Ks
