On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 78,000. SunTime's December 31, 20X1, trial balance in SFr is as follows: Credit Debit SFr 7,200 25,000 6,300 26,000 110,000 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 Total SFr 10,100 13,600 51,000 78,000 154,800 71,500 10,100 35,000 16,400 SFr 307,500 SFr 307,500 Additional Information 1. The receivable from Popular Creek is denominated in Swiss francs. Its books show a $4,599 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 20x1 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!)