On January 1, 20X1, Kiner Company formed a foreign subsidiary that issued all of its currently outstanding common stock on that date. Selected accounts from the balance sheets, all of which are shown in local currency units, are as follows:

		December 31
		20X2			20X1
Accounts Receivable (net of allowance for uncollectible
accounts of 2,200 LCU on December 31, 20X2, and
2,000 LCU on December 31, 20X1)	LCU	39,000		LCU	34,000
Inventories, at cost		71,000			66,000
Property, Plant and Equipment (net of allowance for
accumulated depreciation of 34,000 LCU on December 31,
20X2, and 18,000 LCU on December 31, 20X1)		194,800			184,000
Long-Term Debt		110,000			130,000
Common Stock, authorized 29,000 shares, par value
10 LCU per share; issued and outstanding, 14,500 shares
on December 31, 20X2, and December 31, 20X1		145,000			145,000

Additional Information:

1. Exchange rates are as follows:

	LCU		$
January 1, 20X1July 31, 20X1	2.0	=	1
August 1, 20X1October 31, 20X1	1.8	=	1
November 1, 20X1June 30, 20X2	1.7	=	1
July 1, 20X2December 31, 20X2	1.5	=	1
Average monthly rate for 20X1	1.9	=	1
Average monthly rate for 20X2	1.6	=	1

2. An analysis of the accounts receivable balance is as follows:

			20X2					20X1
Accounts Receivable:
Balance at beginning of year		LCU	36,000
Sales (39,000 LCU per month in 20X2 and 34,000 LCU per month in 20X1)			468,000				LCU	408,000
Collections			(459,500)					(370,900)
Write-offs (May 20X2 and December 20X1)			(3,300)					(1,100)
Balance at end of year		LCU	41,200				LCU	36,000

		20X2				20X1
Allowance for Uncollectible Accounts:
Balance at beginning of year	LCU	2,000
Provision for uncollectible accounts		3,500			LCU	3,100
Write-offs (May 20X2 and December 20X1)		(3,300)				(1,100)
Balance at end of year	LCU	2,200			LCU	2,000

3. An analysis of inventories, for which the first-in, first-out inventory method is used, follows:

		20X2				20X1
Inventory at beginning of year	LCU	66,000
Purchases (June 20X2 and June 20X1)		320,000			LCU	360,000
Goods available for sale	LCU	386,000			LCU	360,000
Inventory at end of year		(71,000)				(66,000)
Cost of goods sold	LCU	315,000			LCU	294,000

4. On January 1, 20X1, Kiners foreign subsidiary purchased land for 22,000 LCU and plant and equipment for 180,000 LCU. On July 4, 20X2, additional equipment was purchased for 32,000 LCU. Plant and equipment is being depreciated on a straight-line basis over a 10-year period with no residual value. A full years depreciation is taken in the year of purchase.
5. On January 15, 20X1, 7 percent bonds with a face value of 130,000 LCU were issued. These bonds mature on January 15, 20X7, and the interest is paid semiannually on July 15 and January 15. The first interest payment was made on July 15, 20X1.

Required: Prepare a schedule translating the selected accounts into U.S. dollars as of December 31, 20X1, and December 31, 20X2, respectively, assuming that the local currency unit is the foreign subsidiarys functional currency. (Round your dollar amounts to nearest whole dollar.)

KINER COMPANY'S FOREIGN SUBSIDIARY Translation of Selected Captions into United States Dollars December 31, 20x2, and December 31, 20X1 Indirect Exchange Rate Balance in Translated into LCUS U.S. Dollars December 31, 20x1: Accounts receivable (net) Inventories, at cost Property, plant and equipment (net) Long-term debt Common stock December 31, 20x2: Accounts receivable (net) Inventories, at cost 34,000 66,000 184,000 130,000 145,000 39,000 71,000 Property, plant and equipment (net) Long-term debt Common stock 194,800 110,000 145,000