is the foreign currency balance sheet for Lee Company at 1, 2006 (use for questions 4 and 5) Cash Fixed Assets 100,000 30,000 Liabilities Common Stock Retained Earnings 60,000 20,000 50,000 The following FX rates were in effect at December 31 Current (Spot) rate: 1 US 40 FC Historical rate: 1 US-.30 FC rate: 1 US 25 FC 4 Assume the US dollar is the functional currency: Whit is US dollar value of Cash at Dec 31 What is the US dollar value of Fixed Assets at Dec 31 Where is the FX remeasurement gain or loss under the temporal method at Dec 31 reported ssume the FC is the functional currency at is the US dollar value of Cash at Dec 31 1471 What is the US dollar value of Fixed Assets at Dec 31 s the FX translation adjustment under the current rate method at Dec 31 reported