On January 1, 2016, Safetyway Group, a U.S. company, formed a Swiss subsidiary, TEurope AG. The subsidiary issued all of its currently outstanding common stock on that date. Selected accounts from its balance sheets on December 31, 2016 and 2017, all of which are shown in Swiss francs (CHF), are as follows:

December 31

(in millions)	2017	2016
Accounts receivable, net	CHF 40,000	CHF 35,000
Inventories, at cost	80,000	75,000
Property, plant and equipment, net of accumulated depreciation
of CHF31,000 at December 31, 2017 and CHF14,000 at
December 31, 2016	163,000	150,000
Long-term debt	100,000	120,000
Common stock 10,000 shares authorized, issued and outstanding
5,000 shares at December 31, 2017 and December 31, 2016	50,000	50,000

Additional Information:

1. Exchange rates are as follows:

	$/CHF
January 1, 2016	$0.96
June, 2016	0.98
December 31, 2016	1.04
Average rate for 2016	0.99
June, 2017	1.10
July 4, 2017	1.12
December 31, 2017	1.13
Average rate for 2017	1.09

2. An analysis of inventories, for which the FIFO inventory method is used, is as follows:

	2017	2018
Inventory at beginning of year	CHF 75,000	-----
Purchases (June 2017 and June 2016)	335,000	CHF 375,000
Goods available for sale	410,000	375,000
Inventory at end of year	(80,000)	(75,000)
Costs of goods sold	CHF 330,000	CHF 300,000

3. On January 1, 2016, TEurope purchased land for CHF24,000 and plant and equipment for CHF140,000. On July 4, 2017, additional equipment was purchased for CHF30,000. Plant and equipment is depreciated on a straight-line basis over a ten-year period with no salvage value. A full years depreciation is taken in the year of purchase.

Required

a. Prepare a schedule remeasuring the selected accounts above into U.S. dollars (the functional currency) at December 31, 2017, and December 31, 2016, respectively. Show supporting computations in good form.

b. Prepare a schedule translating the selected accounts above into U.S. dollars at December 31, 2017, and December 31, 2016, assuming the Swiss franc is the functional currency.