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: Credit Debit SFr 8,100 24,500 5,300 29,500 106,000 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 11,800 13,500 53,000 65,000 166,800 75,000 11,800 34,500 15,400 SFr310,100 Total SFr310,100 Additional Information 1. The receivable from Popular Creek is denominated in Swiss francs. Its books show a $3,869 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: January 1 March 1 November 1 December 31 20xl average SFr $ 1 = 0.80 1 = 0.77 1 = 0.74 1 = 0.73 1 = 0.75 6. The U.S. dollar is the functional currency. Required: a. Prepare a schedule remeasuring the December 31, 20x1, trial balance from Swiss francs to dollars. (If no adjustment is needed, select 'No entry necessary!:) 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 Total debits Accumulated depreciation Accounts payable Bonds payable Common stock Sales Total Total credits