On December $31,2013,$ Hilman Enterprises of Montreal paid $$12,000,000$ for $100\%$ of the outstanding shares of Wilsen Corp of the United States. Wilsen's fair values approximated its book values on that date.

Wilsen's comparative balance sheets for $2013$ and $2014$ are shown below:

Balance Sheet as at

December $31($in U$.$S$.$ Dollars$)$

$20142013$

Current Monetary Assets $$8,000,000,$$$7,500,000$

Inventory $2,000,0003,000,000$

Current Liabilities $$1,100,000,$$$2,300,000$

Bonds Payable $($due Dec $31,2019)5,000,000$

$5,000,000$

Common Stock $4,000,000,4,000,000$

Retained Earnings $,1,{400}_{,}{000}_{,}{1}_{,}{000}_{,}{000}_{?}$

Total Liabilities and Equity $$11,{500}_{,}{000}_{\text{\$}}12,{300}_{,}{000}_{?}$

Income Statement for

The Year ended

December $31,2014$

Sales $$5,{200}_{,}{000}_{?}$

Inventory, January $1,2014,3,000,000$

Purchases $3,000,000$

Inventory, December $31,2014(2,000,000)$

Depreciation Expense $300,000$

Other Expenses $400,{000}_{?}$

$4,{700}_{,}{000}_{?}$

Net Income $$500,{000}_{?}$

Other Information:

Exchange Rates:

December $31,2013$: $,$ $$1$U$.$S$.=$$$1\mathrm{.}1850CDN$

September $30,2014$: $$1$U$.$S$.=$$$1\mathrm{.}1975CDN$

December $31,2014$: $,$ $$1$U$.$S$.=,$$$1\mathrm{.}20CDN$

Average for $2014$: $,$$$1U.S.=,$$$1\mathrm{.}19CDN$

Wilsen paid U$.$S$.$ $$100,000$ in dividends on September $30,2014.$

The inventories on hand at the end of $2014$ were purchased when the exchange rate was $$1$U$.$S$.=$$$1\mathrm{.}195CDN.$

Wilsen considers the Canadian $ to be its functional currency.

Required:

Prepare translated financial statements of Wilsen in order that Hilman will be able to prepare consolidated financial statements.