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pennymarkets corp, a US firm, acquired Supervalu, on January 1, 2019. Supervalu is a swedish company that has been in existence for several years, and

pennymarkets corp, a US firm, acquired Supervalu, on January 1, 2019. Supervalu is a swedish company that has been in existence for several years, and whose functional currency is the US dollar. Compartiive account balances for January 1 and December 31, 2019, appear below, measured in Krona (kr), the swedish currency.

Account balance 12/31/2019 1/1/2019



Cash kr 240,000 kr    175,000
Accounts receivable, net 360,000 400,000
Plant and Equipment, net 2,000,000 2,320,000
Account payable (200,000) (535,000)
Notes payable (600,000) (800,000)
Capital stock (400,000) (400,000)
Retained Earnings, Jan 1 (1,160,000) (1,160,000)
Sales (1,200,000)
Depreciation Expense 320,000
Other Expense 640,000
Totals 0 0











$/kr
Exchange Rates:

January 1, 2019
0.13
Average for 2019
0.14
December 31, 2019
0.16



Translate Supervalu's 2019 ending trial balance into US dollars. Include a schedule calculating the 2019 translation gain or loss, appearing in other comprehensive income for 2019.

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