On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 74,000. SunTimes December 31, 20X1, trial balance in SFr is as follows: Debit Credit Cash SFr 8,100 Accounts Receivable (net) 24,000 Receivable from Popular Creek 6,900 Inventory 27,500 Plant & Equipment 103,000 Accumulated Depreciation SFr 11,000 Accounts Payable 12,600 Bonds Payable 51,000 Common Stock 74,000 Sales 150,900 Cost of Goods Sold 71,000 Depreciation Expense 11,000 Operating Expense 31,000 Dividends Paid 17,000 Total SFr 299,500 SFr 299,500

Additional Information The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $5,520 payable to SunTime. Purchases of inventory goods are made evenly during the year. Items in the ending inventory were purchased November 1. Equipment is depreciated by the straight-line method with a 10-year life and no residual value. A full years depreciation is taken in the year of acquisition. The equipment was acquired on March 1. The dividends were declared and paid on November 1.

Exchange rates were as follows: SFr $ January 1 1 = 0.73 March 1 1 = 0.74 November 1 1 = 0.77 December 31 1 = 0.80 20X1 average 1 = 0.75 The Swiss franc is the functional currency.

Required: Prepare a schedule translating the December 31, 20X1, trial balance from Swiss francs to dollars. (If no adjustment is needed, select 'No entry necessary'.)