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 2,400 LCU on December 31, 20X2, and
2,200 LCU on December 31, 20X1)	LCU	42,000		LCU	37,000
Inventories, at cost		70,000			65,000
Property, Plant and Equipment (net of allowance for
accumulated depreciation of 31,000 LCU on December 31,
20X2, and 17,000 LCU on December 31, 20X1)		198,200			181,000
Long-Term Debt		120,000			140,000
Common Stock, authorized 12,000 shares, par value
10 LCU per share; issued and outstanding, 6,000 shares
on December 31, 20X2, and December 31, 20X1		60,000			60,000

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	39,200
Sales (36,000 LCU per month in 20X2 and 31,000 LCU per month in 20X1)			432,000				LCU	372,000
Collections			(423,300	)				(331,700	)
Write-offs (May 20X2 and December 20X1)			(3,500	)				(1,100	)
Balance at end of year		LCU	44,400				LCU	39,200

		20X2				20X1
Allowance for Uncollectible Accounts:
Balance at beginning of year	LCU	2,200
Provision for uncollectible accounts		3,700			LCU	3,300
Write-offs (May 20X2 and December 20X1)		(3,500	)			(1,100	)
Balance at end of year	LCU	2,400			LCU	2,200

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	65,000
Purchases (June 20X2 and June 20X1)		355,000			LCU	395,000
Goods available for sale	LCU	420,000			LCU	395,000
Inventory at end of year		(70,000	)			(65,000	)
Cost of goods sold	LCU	350,000			LCU	330,000

4. On January 1, 20X1, Kiners foreign subsidiary purchased land for 28,000 LCU and plant and equipment for 170,000 LCU. On July 4, 20X2, additional equipment was purchased for 38,000 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 140,000 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 Balance Indirect Translated into in LCUs Exchange Rate U.S. Dollars December 31, 20X1: Accounts receivable (net) 37,000 Inventories, at cost 65,000 Property, plant and equipment (net) 181,000 Long-term debt 140,000 Common stock 60,000 December 31, 20X2: Accounts receivable (net) 42,000 Inventories, at cost 70,000 Property, plant and equipment (net) 198,200 Long-term debt 120,000 Common stock 60,000