Livingston Company is a wholly owned subsidiary of Rose Corporation. Livingston operates in a foreign country with financial statements recorded in goghs (GH), the company's functional currency. Financial statements for the year of 2017 are as follows: Income Statement For Year Ending December 31, 2017 Sales GH 270, eee Cost of goods sold (155,000) Gross profit 115,000 Less: Operating expenses (54,60e) Gain on sale of equipment 10,000 Net income GH 71,000 N Statement of Retained Earnings For Year Ending December 31, 2017 Retained earnings 1/1/17 GH Net income Less: Dividends Retained earnings, 12/31/17 GH 216,000 71.000 (26,eee) 261,000 Balance Sheet December 31, 2017 12 or Balance Sheet December 31, 2017 Assets Cash Receivables Inventory Property, plant and equipment (net) Total assets Liabilities and Equities Liabilities Common stock Retained earnings, 12/31/17 Total liabilities and equities GH 44,000 116,000 58,000 339.000 GH 557,000 GH 176,000 120,000 261, eee GH 557,000 Additional Information The common stock was issued in 2010 when the exchange rate was $2.08 per GH property, plant, and equipment was acquired in 2011 when the rate was $2.00 per GH. As of January 1, 2017, the retained earnings balance was translated as $396,520. The U.S.$ per GH exchange rates for 2017 follow. Prepare a Balance Sheet. (Amounts to be deducted and negative amounts should be indicated with a minus sign.) LIVINGSTON COMPANY Balance Sheet December 31, 2017 Assets: Total assets Liabilities and Equities: Total liabilities and equities