Livingston Company is a wholly owned subsidiary of Rose Corporation. Livingston operates in a foreign country with financial statements record in pounds (P), the companys functional currency. Financial statements for the year 2024 are as follows:

Income Statement for the Year Ending December 31, 2024

Sales	P 270,000
Cost of goods sold	(155,000)
Gross profit	115,000
Less: Operating expenses	(54,000)
Gain on sale of equipment	10,000
Net income	P 71,000

Statement of Retained Earnings for Year Ending December 31, 2024

Retained earnings, 1/1/24	P 216,000
Net income	71,000
Less: Dividends	(26,000)
Retained earnings, 12/31/24	P 261,000

Balance Sheet December 21, 2024

Assets
Cash	P 44,000
Receivables	116,000
Inventory	58,000
Property, plant, and equipment (net)	339,000
Total Assets	P 557,000
Liabilities and Equities
Liabilities	P 176,000
Common stock	120,000
Retained earnings, 12/31/24	261,000
Total liabilities and equities	P 557,000

Additional Information:

• The common stock was issued in 2017 when the exchange rate was $2.08 per pound; property, plant, and equipment was acquired in 2018 when the exchange rate was $2.00 per pound.
• As of January 1, 2024, the retaining earnings balance was translated as $396,520.
• The U.S. dollar-per-pound exchange rates for 2024 follow:

January 1	$1.67
April 1	1.61
September 1	1.72
December 31	1.54
Weighted average	1.59

• Inventory was acquired evenly throughout the year.
• The December 31, 2023, balance sheet reported a translation adjustment with a debit balance of $85,000.
• Dividends were declared on April 1, 2024, and a piece of equipment was sold on September 1, 2024.

Assume that the pound is Livingston Companys functional currency. Translate the 2024 foreign currency financial statements into the parents reporting currency, the U.S. dollar.