Lancer, Inc. (a U.S.-based company), establishes a subsidiary in a foreign country on January 1, 2016. The following account balances for the year ending December 31, 2017, are stated in kanquo (KQ), the local currency: Sales KQ 190,000 Inventory (bought on 3/1/17) 95,000 Equipment (bought on 1/1/16) 58,000 Rent expense 12,000 Dividends (declared on 10/1/17) 22,000 Notes receivable (to be collected in 2020) 35,000 Accumulated depreciationequipment 17,400 Salary payable 4,800 Depreciation expense 5,800 The following U.S.$ per KQ exchange rates are applicable: January 1, 2016 $0.18 Average for 2016 0.19 January 1, 2017 0.23 March 1, 2017 0.24 October 1, 2017 0.26 December 31, 2017 0.27 Average for 2017 0.25 Lancer is preparing account balances to produce consolidated financial statements. Assuming that the kanquo is the functional currency, what exchange rate would be used to report each of these accounts in U.S. dollar consolidated financial statements? Assuming that the U.S. dollar is the functional currency, what exchange rate would be used to report each of these accounts in U.S. dollar consolidated financial statements? (Round your answers to 2 decimal places.)