please explain the calculations

9. The following direct exchange rate quotations were available: $1.07 1.075 1.08 Date of subsidiary acquisition Average for 2014 January 1, 2015 September 2, 2015 December 31, 2015 Average for the 4th quarter, 2015 Average for 2015 1.09 1.10 1.095 1.085 Required: 1. Convert the accounts of the foreign subsidiary, assuming that the U.S. dollar is the functional currency of both companies. For this problem assume that the subsidiary's beginning (1/1/20) retained earnings balance in the translated balance sheet is $551,055. 2. Prepare a schedule to verify the translation gain or loss, assuming a 637,000 Swiss franc net exposed liability position at the beginning of the year. 9. The following direct exchange rate quotations were available: $1.07 1.075 1.08 Date of subsidiary acquisition Average for 2014 January 1, 2015 September 2, 2015 December 31, 2015 Average for the 4th quarter, 2015 Average for 2015 1.09 1.10 1.095 1.085 Required: 1. Convert the accounts of the foreign subsidiary, assuming that the U.S. dollar is the functional currency of both companies. For this problem assume that the subsidiary's beginning (1/1/20) retained earnings balance in the translated balance sheet is $551,055. 2. Prepare a schedule to verify the translation gain or loss, assuming a 637,000 Swiss franc net exposed liability position at the beginning of the year