Lancer, Inc. (a U.S.-based company), establishes a subsidiary in Croatia on January 1, 2019. The following account balances for the year ending December 31,2020 , are stated in kuna (K), the local currency: The following U.S.\$ per kuna exchange rates are applicable: Lancer is preparing account balances to produce consolidated financial statements. a. Assuming that the kuna is the functional currency, what exchange rate would be used to report each of these accounts in U.S. dollar consolidated financial statements? b. 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? (For all requirements, round your answers to 2 decimal places.) (For all requirements, round your answers to 2 decimal places.)