On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 65,000. SunTime's December 31, 20X1, trial balance in SFr is as follows:

DebitCreditCashSFr8,100Accounts Receivable (net)24,000Receivable from Popular Creek6,200Inventory26,500Plant & Equipment109,000Accumulated DepreciationSFr10,800Accounts Payable12,600Bonds Payable54,500Common Stock65,000Sales163,600Cost of Goods Sold72,500Depreciation Expense10,800Operating Expense33,000Dividends Paid16,400TotalSFr306,500SFr306,500

Additional Information

1. The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $4,960 payable to SunTime.
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 full 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:

SFr$January 11=0.73March 11=0.74November 11=0.77December 311=0.8020X1 average1=0.75

1. The Swiss franc is the functional currency.

Required:

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