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Lost Beer acquired TikTok Brewery, an Irish company in 2021. The subsidiary's balance sheet is stated in euros. When Lost Beer acquired the TikTok Brewery,
Lost Beer acquired TikTok Brewery, an Irish company in 2021. The subsidiary's balance sheet is stated in euros. When Lost Beer acquired the TikTok Brewery, a euro was worth $1.36. When TikTok Brewery earned its income during 2021, the average exchange rate was $1.28. On December 31, 2020, a euro is worth $1.12. At the end of 2021, the subsidiary's assets were 1,100,000 euros; the liabilities were 600,000 euros, common stock was 450,000 euros and retained earnings was 50,000 euros.
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Translate TikTok Brewery's balance sheet into dollars.
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