On January 1, 2019, Parker, Inc., a U.S.-based firm, formed a wholly-owned subsidiary Suffolk PLC located in Great Britain. Relevant exchange rates are listed below

January 1, 2019 . . . . . . . . . . . . . . . . . . . . . . . 1= $ 1.30

January 1, 2020 . . . . . . . . . . . . . . . . . . . . . . . 1= $ 1.31

January 30, 2020 . . . . . . . . . . . . . . . . . . . . . . 1= $ 1.32

Average for 2020 . . . . . . . . . . . . . . . . . . . . . .. 1= $ 1.33

December 31, 2020 . . . . . . . . . . . . . . . . . . . ... 1= $ 1.36

Suffolks functional currency is the British pound (GBP). Suppose sales are made evenly throughout the year. As of January 1, 2020, the retained earnings balance was translated as $10,560. Dividends are declared on Jan 30, 2020. Credit balances are indicated in parentheses.

Income Statement: GPB

Sales (28,000), Cost of Goods Sold 16,000, Depreciation Expense 2,000, Other Expenses 6,000 = Net Income (4,000)

Statement of Retained Earnings

Retained Earnings, 1/1/2020 (8,000), Net Income (4,000), Dividends Paid 1,750 = Retained Earnings, 12/31/2020 (10,250)

Balance Sheet

Cash 1,500, Account Receivable 5,200, Inventory 18,000, Equipment (net) 36,000 = Total Assets 60,700

Account Payable (1,450), Long-Term Debt (5,000), Common Stock (44,000), Retained Earnings, 12/31/2020 (10,250) = Cumulative Translation Adjustment Total Liabilities and Equity (60,700)

A. What is translated Sales in U.S. dollars?

B. What is translated Depreciation expense in U.S. dollars?

C. What is translated Net income in U.S. dollars?

D. What are translated Dividends paid in U.S. dollars?

E. What are translated Retained earnings (as of 12/31/2020) in U.S. dollars?

F. What is translated Inventory in U.S. dollars?

G. What is translated Equipment (net) in U.S. dollars?

H. What are translated Total assets in U.S. dollars?

I. What is translated Common stock in U.S. dollars?

J. Cumulative translation adjustment (as of 12/31/2020)?