On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 70,000. SunTime's December 31, 20x1, trial balance in SFr is as follows: Credit Debit SFr 7,300 24,000 6,300 26,000 106,000 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 11,100 12,900 54,500 70,000 157,900 73,500 11,100 35,000 17,200 SFr306,400 SFr306,400 Total Additional Information 1. The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $5,040 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 the year of acquisition. The equipment was acquired on March 1. 4. The dividends were declared and on November 1. 5. Exchange rates were as follows: January 1 March 1 SFI $ 1 =0.73 1=0.74 Drov 1 of 2 Neyt $ January 1 March 1 November 1 December 31 20x1 average SFI 1=0.73 1=0.74 1=0.77 1 = 0.80 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, sele "No entry necessary!) SUN TIME COMPANY Trial Balance Translation Schedule December 31, 20X1 U.S. Dollars Cash Accounts receivable (net) 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 Total debits $ 0 Accumulated depreciation Accounts payable Bonds payable Common stock Sales Total $ 0 Total credits $ 0