On January 1, 20:4, a U.S. company purchased 100% of the outstanding stock or ventana Graina, a company located in Latz City, New Zealand. Ventana Grains was organized on January 1, 2000. All the property, plant, and equpmenhed on January 1, 20:4, was acquired when the company was organized. The businesa combination was accounted for as a purchase transaction. The 2014 Trencial statements for Ventana Crains, prepared in a local CUTTLy, the New Zealand dollar, are gven here. VENTANA GRAINS Comparative Balance Sheets January 1 and December 31, 2014 Jan. 1 Cach and Receivables 595.000 Dec. 31 499.000 551.000 604,000 Buildings (net) Equipment (net) 293,000 211,000 Short-Term Accounts and Notes Long-Term Meter feon,000 September 1, 2005, 71,000 in 2.ly 1, 2014) Common Stock Astral Pidin Capital Retained Earnings CA4,na 100,00 200.000 VENTANA GRAINS Consolidated Torm and Retained Earnings Statement for the Year Ended December 31, 2014 Cost of Goods Sold: Beginning Inventory Goods Available for Sale Leas: Ending Inventory Cost of Goods Sold 2,079.000 2,674,000 498.000 Deprecation Expense Other Expenses 141.000 Jan 1 Retina dirinya Lecs: Dividends Paid Dec 31 Resinad Parnings The count balance au camp in formly with U.S. unually ac c ounting standards Cither information iR ARI : 1. Direct exchange rater for the New Zealand dollar on various cater were: Exchange Rate Jancery 1, 2010 September 1, 2010 Jan.ery 1, 2014 July 1, 2014 December 31, 2014 0.7298 Average for 2014 Average for the last four months of 2014 0.7476 2. Verband Grain purchaud aciditional marfur 20.000 New Zward dollar on July 1, 2014, by wwung au fur 78.000 New Zealand dollars and paying the balance in cah 5. Salex wwe made and purchase and there were incurred wvenly throughout the year 1. De rripien for the pand in New Panland do Was compras as follow Building Equipment Purchased before 3/1/2014 Equpment Purchased July 1, 2014 47,000 84,100 9,900 5. The inventory is valued on a FIFO basis. The beginning inventory was acquired when the exchange rate was $0.7480. The ending inventory was acquired during the last four months of 2014 6. Dividers of 53.000 New Zealand dullore were paid on July 1 and December 31. a) Remeasure the financial statements into collars assuming that the U.S. dolar was identified as the functional currency of the foreign suediary. (Round answers to negative sign preceding the number e.g. 2,945 or parentheses e.. (2,945).) decimal places, e.g. 5,125. Enter loss using either a Zealand Rate Balance Shed 0000 Consolidated Statement of Income and Retained Earni On January 1, 20:4, a U.S. company purchased 100% of the outstanding stock or ventana Graina, a company located in Latz City, New Zealand. Ventana Grains was organized on January 1, 2000. All the property, plant, and equpmenhed on January 1, 20:4, was acquired when the company was organized. The businesa combination was accounted for as a purchase transaction. The 2014 Trencial statements for Ventana Crains, prepared in a local CUTTLy, the New Zealand dollar, are gven here. VENTANA GRAINS Comparative Balance Sheets January 1 and December 31, 2014 Jan. 1 Cach and Receivables 595.000 Dec. 31 499.000 551.000 604,000 Buildings (net) Equipment (net) 293,000 211,000 Short-Term Accounts and Notes Long-Term Meter feon,000 September 1, 2005, 71,000 in 2.ly 1, 2014) Common Stock Astral Pidin Capital Retained Earnings CA4,na 100,00 200.000 VENTANA GRAINS Consolidated Torm and Retained Earnings Statement for the Year Ended December 31, 2014 Cost of Goods Sold: Beginning Inventory Goods Available for Sale Leas: Ending Inventory Cost of Goods Sold 2,079.000 2,674,000 498.000 Deprecation Expense Other Expenses 141.000 Jan 1 Retina dirinya Lecs: Dividends Paid Dec 31 Resinad Parnings The count balance au camp in formly with U.S. unually ac c ounting standards Cither information iR ARI : 1. Direct exchange rater for the New Zealand dollar on various cater were: Exchange Rate Jancery 1, 2010 September 1, 2010 Jan.ery 1, 2014 July 1, 2014 December 31, 2014 0.7298 Average for 2014 Average for the last four months of 2014 0.7476 2. Verband Grain purchaud aciditional marfur 20.000 New Zward dollar on July 1, 2014, by wwung au fur 78.000 New Zealand dollars and paying the balance in cah 5. Salex wwe made and purchase and there were incurred wvenly throughout the year 1. De rripien for the pand in New Panland do Was compras as follow Building Equipment Purchased before 3/1/2014 Equpment Purchased July 1, 2014 47,000 84,100 9,900 5. The inventory is valued on a FIFO basis. The beginning inventory was acquired when the exchange rate was $0.7480. The ending inventory was acquired during the last four months of 2014 6. Dividers of 53.000 New Zealand dullore were paid on July 1 and December 31. a) Remeasure the financial statements into collars assuming that the U.S. dolar was identified as the functional currency of the foreign suediary. (Round answers to negative sign preceding the number e.g. 2,945 or parentheses e.. (2,945).) decimal places, e.g. 5,125. Enter loss using either a Zealand Rate Balance Shed 0000 Consolidated Statement of Income and Retained Earni