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: 7,400 5,300 Debit Credit Cash SFr Accounts Receivable (net) 21,500 Receivable from Popular Creek Inventory 25,500 Plant & Equipment 101,000 Accumulated SFr 10,200 Depreciation Accounts Payable 13,100 Bonds Payable 52,000 Common Stock 65,000 Sales 153,300 Cost of Goods Sold 75,000 Depreciation Expense 10,200 Operating Expense 31,500 Dividends Paid 16,200 Total SFr293,600 SFr293,600 Additional Information 1. The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $4,240 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 1 1 =0.73 March 1 1 = 0.74 November 1 1 = 0.77 December 31 1 = 0.89 20X1 average 1 = 0.75 6. 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!) 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') SUNTIME COMPANY Trial Balance Translation 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 $ 0 Total debits Accumulated depreciation Accounts payable Bonds payable Common stock Sales Total $ 0 Total credits $ 0