On January 1, 20x1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 63,000. SunTime's December 31, 20X1, trial balance in SFr is as follows: Payable Cash Accounts Receivable (net) Receivable from Popular Creek Inventory Plant & Equipment Accumulated Depreciation Accoun Accounts Bonds Payable Common Stock Sales Cost of Goods Sold Depreciation Expense Operating Expense Dividends Paid Total Debit Credit SFr 8,800 22,500 6,200 27,500 103,000 SFr 11,900 13,300 50,500 63,000 161, 800 72,000 11,900 32,000 16,600 SFr300,500 SFr300,500 Additional Information 1. The receivable from Popular Creek is denominated in Swiss francs. Its books show a $4,526 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 acc sition. 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 1 March 1 November 1 December 31 20X1 average 1 = 0.80 1 1 = 0.77 1 = 0.74 1 = 0.73 1 = 0.75 SunTime Company Trial Balance Remeasurement Schedule December 31, 20X1 U.S. Dollars Cash Accounts receivable (net) Receivable from Popular Creek Inventory Plant and equipment Cost of goods sold Depreciation expense Operating expense Dividends paid Total 0 Total debits $ 0 Accumulated depreciation Accounts payable Bonds payable Common stock Sales Total $ 0 Total credits $ 0