On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 72,000. SunTime's December 31, 20X1, trial balance in SFr is as follows: Debit Credit Cash Sir 7,200 Accounts Receivable (net) 21,500 Receivable from Popular Creek 5, 100 Inventory 28,000 Plant & Equipment 107,000 Accumulated Depreciation SFr 10,300 Accounts Payable 12,600 Bonds Payable 51,500 Common Stock 72,000 Sales 153,500 Cost of Goods Sold 72,000 Depreciation Expense 10,300 Operating Expense 32,000 Dividends Paid 16,800 Total SFr299,900 SFr299,900 Additional Information 1. The receivable from Popular Creek is denominated in Swiss francs. Its books show a $3,723 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 = 0.80 March 1 1 = 0.77 November 1 1 = 0.74 December 31 1 = 0.73 20X1 average 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'.) Sun Time 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 $ 0 Total debits Accumulated depreciation Accounts payable Bonds payable Common stock Sales Total $ 0 Total credits $ 0