On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 77,000. RoadTime's December 31, 20X1 trial balance in SFr is as follows: Debit Credit Cash Accounts Receivable (net) Receivable from Popular Creek Inventory Plant & Equipment Accumulated Depreciation Accounts Payable Bonds Payable Common Stock Sales Cost of Goods Sold Depreciation Expense Operating Expense Dividends Paid SFr 8,500 21,500 5,400 26,500 109,000 SFr 11,000 12,300 54,000 77,000 149,900 75,000 11,000 30,500 16,800 Total SFr 304,200 SFr304,200 Additional Informationn 1. The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $4,320 payable to RoadTime 2. Purchases of inventory goods are made evenly during the year. Items in the ending inventory were purchased November 1 3. Equipment is depreciated by the straight-line method with a 10-year life and no residual value. A ful year's depreciation is taken in the year of acquisition. The equipment was acquired on March 1. 4. The dividends were declared and paid on November 1 5. Exchange rates were as follows On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 77,000. RoadTime's December 31, 20X1 trial balance in SFr is as follows: Debit Credit Cash Accounts Receivable (net) Receivable from Popular Creek Inventory Plant & Equipment Accumulated Depreciation Accounts Payable Bonds Payable Common Stock Sales Cost of Goods Sold Depreciation Expense Operating Expense Dividends Paid SFr 8,500 21,500 5,400 26,500 109,000 SFr 11,000 12,300 54,000 77,000 149,900 75,000 11,000 30,500 16,800 Total SFr 304,200 SFr304,200 Additional Informationn 1. The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $4,320 payable to RoadTime 2. Purchases of inventory goods are made evenly during the year. Items in the ending inventory were purchased November 1 3. Equipment is depreciated by the straight-line method with a 10-year life and no residual value. A ful year's depreciation is taken in the year of acquisition. The equipment was acquired on March 1. 4. The dividends were declared and paid on November 1 5. Exchange rates were as follows