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On January 1 st 2 0 1 0 Dunkin Donuts acquired the French Pastry Company information about French Pastry is as follows: January 1 ,

On January 1st 2010 Dunkin Donuts acquired the French Pastry Company information about French Pastry is as follows:
January 1,2010 the Euro was worth $1
On January 1st 2015 French Pastry Company purhcased some land when the Euro was worth $1.05
On January 1st 2022 French Pastry Company purchased some equipent when the Euro was worth $0.97
On July 1st 2023 French Pastry paid a 400,000 euro dividend when the Euro was worth $1.02
the average exchange rate between the Euro and the dollar in 2023 was 1 Euro = $1.04
On December 31st the Euro was worth $0.99
On January 1st 2023 French Pastry's retained earnings in dollars was $193,500
On October 1st French Pastry sold some of the land purchased in 2015. The Euro was worth $1.07 on October 1st
French Pastry Balance Sheet ( using US GAAP, but in Euros) Dec 312023
Cash 400000 Account Payable 800,000
accounts receivable 800,000 note payable 300,000
equipment 1,000,000
a/d equipment 200,000 Common stock 1,000,000
land 1,500,000 APIC Common stock 1,000,000
retained earnings 400,000
total assets 3,500,000
French Pastry Income Statement (using US GAAP but in Euros) For the year 2023
Sales 3,000,000
depreciation expense 100,000
operating expenses 2,000,000
sale of land 300,000
net income 600,000
REQUIRED: 1) PREPARE FRENCH PASTRY'S STATEMENTS IN DOLLARS IF THE DOLLAR IS THE FUNCTIONAL CURRENCY

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