Livingston Company is a wholly owned subsidiary of Rose Corporation. Livingston operates in a foreign country with financial statements recorded in goghs (GH), the companys functional currency. Financial statements for the year of 2015 are as follows
		Income Statement
		For Year Ending December 31 2015
	Sales			GH	270,000
	Cost of good sold				-155,000
	Gross profit				115000
	Less: operating expenses				-54,000
	Gain on sale of equipment				10,000
	Net income			GH	71,000
	Statement of Retained Earnings
	For Year Ending December 31, 2015
	Retained earnings 1/1/13			GH	216,000
	Net income				71,000
	Less : Dividends				-26,000
	Retained earnings 12/1/13			GH	261,000
		Balance sheet
		Assets
	Cash			GH	44,000
	Receivables				116,000
	Inventory				58,000
	Fixed assets				339,000
	Total assets				557,000
		Liabilities and Equities
	Liabilities			GH	176,000
	Common stock				120,000
	Retained earnings, 12/3//15				261,000
	Total liabilties and equities			GH	557,000
	Information The common stock was issued in 2004 when the exchange rate was $2.08 per GH; fixed assets were acquired in 2005 when the rate was $2.00 per GH. As of January 1, 2015, the Retained Earnings balance was translated as $395,000. The U.S.$ per GH exchange rates for $1 for the current year follow:
Inventory was acquired evenly throughout the year. The December 31, 2015, balance sheet reported a translation adjustment with a $85,000 debit balance. Dividends were declared on April 1, 2015, and a piece of equipment was sold on September 1, 2015. Translate the foreign currency statements into the parents reporting currency, the U.S. dollar.