Livingston Company is a wholly owned subsidiary of Rose Corporation. Livingston operates in a foreign country with financial statements recording in goghs (GH), the company's functional currency. Financial statements for the year 2017 are as follows: LIVINGSTON COMPANY Income Statement For the Year Ending December 31, 2017 Goghs Ex Rate Code U.S. Dollars Sales 270,000 Cost of goods sold (155,000) Gross profit 115,000 (54,000) Less: Operating expenses Gain on sale of equipment 10,000 Net income 71.000 Statement of Retained Earnings For the Year Ending December 31, 2017 Goghs Ex Rate Code U.S. Dollars Retained earnings, 1/1 216,000 Net income 71,000 Less: Dividends (26,000) Retained earnings, 12/31 261.000 Balance Sheet December 31, 2017 Goghs Ex Rate Code U.S. Dollars Assets Cash 44,000 Receivables 116,000 Inventory 58,000 Fixed assets (net) 339,000 Total assets 557.000 Liabilities and Equities Liabilities 176,000 Common stock 120,000 Retained earnings, 12/31 261,000 Translation adjustment Total liabilities and equities 557.000 Calculation of Translation Adjustment: Goghs. Ex Rate Code U.S. Dollars Net assets, 1/1 Net income Dividends Net assets, 12/31 Net assets at current exchange rate Translation adjustment, 2017 (negative) Cumulative translation adjustment, 1/1 (negative) Cumulative translation adjustment, 12/31 (negative) 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 are as follows: January 1.... April 1....... September 1... December 31... Weighted Avg $1.67 $1.61 $1.72 $1.54 $1.59 Inventory was acquired evenly throughout the year. The December 31, 2016, balance sheet reported a translation adjustment with a debit balance of $85,000. Dividends were declared on April 1, 2017, and a piece of equipment was sold on September 1, 2017. Assume that the gogh is Livingston Company's functional currency. Requirement: Translate the 2017 foreign currency financial statements into the parent's reporting currency, the U.S. dollar. Place your answers directly within the financials and calculation of the translation adjustment statement provided above. Use the following code system: o Code: A = average; C = current; H = historical; BOY = beginning of year