Please fix the errors asap. Thanks in advance

Translation of financial statements Assume that your company owns a subsidiary operating in Brazil. The subsidiary maintains its books in the Brazilian real (BRL) as its functional currency. The subsidiary's financial statements (in BRL) for the most recent year follow in part a. below: The relevant exchange rates for the $US value of the Brazilian real (RS) are as follows: BOY rate $0.26 EOY rate $0.33 Avg. rate $0.29 PPE purchase date rate $0.30 LTD borrowing date rate $0.30 Dividend rate $0.31 Historical rate (common stock and APIC) $0.14 For both parts a. and b. below, use a negative sign with answers to indicate a reduction. a. Translate the subsidiary's income statement, statement of retained earnings, balance sheet, and statement of cash flows into $US (assume that the BOY Retained Earnings is $1,230,248). Round all answers in the "In US Dollars" column to the nearest dollar. Translation Income statement: In R$ Rate US Dollars Sales 3,000,000 0.29 $ 870,000 Cost of goods sold (1.800.000) 0.29 (522,000) Gross profit 1,200,000 612,000 x Operating expenses (780,000) 0.29 (226,200) Net income 420,000 385,800 x Statement of retained earnings: BOY ret. earnings 1,575.000 OX Net income 420,000 OX Dividends (42,000) 0.31 EOY ret. earnings 1,953,000 $ OX Balance sheet: Assets $ $ 0.33 $ 281,754 Cash Accounts receivable 853,800 696,000 894,000 1,653,600 4,097,400 0.33 0.33 0.33 229,680 295,020 545,688 $ 1,352, 142 Inventory Property, plant, and equipment (PPE), net Total assets Liabilities and stockholders' equity Current liabilities L-T liabilities 508,800 0.33 $ 167.904 391,248 1,185,600 0.33 Common stock 200,000 250,000 1,953,000 0.14 0.14 APIC Ret, earnings 28,000 35,000 OX 4,097,400 $ 0.29 $ 0.29 0.29 0.29 $ 121,800 (33.640) (43.210) 24.592 69,542 $ Cumulative translation adjustment Total liabilities and equity Statement of cash flows: : Net income Change in accounts receivable Change in inventories Change in current liabilities Net cash from operating activities Change in PPE.net Net cash from investing activities Change in long-term debt Dividends Net cash from financing activities Net change in cash Effect of exchange rate on cash Beginning cash Ending cash 420,000 (116,000) (149,000) 84,800 239,800 (153,600) (153,600) 197,600 (42.000) 155,600 241,800 OX 0.3 0.31 59,280 (13,020) 46,260 612,000 853.800 0.26 0.29 x $ 159,120 247,602 X b. Compute the ending Cumulative Translation Adjustment directly, assuming a BOY balance of $(766,748). Round answers to the nearest dollar. Direct computation of translation adjustment: BOY net assets x (EOY - BOY exchange rates) Net income x (EOY - Average exchange rate) Dividends (EOY - Dividend exchange rate) $ OX OX 0 X F BOY cumulative translation adjustment EOY cumulative translation adjustment $ Translation of financial statements Assume that your company owns a subsidiary operating in Brazil. The subsidiary maintains its books in the Brazilian real (BRL) as its functional currency. The subsidiary's financial statements (in BRL) for the most recent year follow in part a. below: The relevant exchange rates for the $US value of the Brazilian real (RS) are as follows: BOY rate $0.26 EOY rate $0.33 Avg. rate $0.29 PPE purchase date rate $0.30 LTD borrowing date rate $0.30 Dividend rate $0.31 Historical rate (common stock and APIC) $0.14 For both parts a. and b. below, use a negative sign with answers to indicate a reduction. a. Translate the subsidiary's income statement, statement of retained earnings, balance sheet, and statement of cash flows into $US (assume that the BOY Retained Earnings is $1,230,248). Round all answers in the "In US Dollars" column to the nearest dollar. Translation Income statement: In R$ Rate US Dollars Sales 3,000,000 0.29 $ 870,000 Cost of goods sold (1.800.000) 0.29 (522,000) Gross profit 1,200,000 612,000 x Operating expenses (780,000) 0.29 (226,200) Net income 420,000 385,800 x Statement of retained earnings: BOY ret. earnings 1,575.000 OX Net income 420,000 OX Dividends (42,000) 0.31 EOY ret. earnings 1,953,000 $ OX Balance sheet: Assets $ $ 0.33 $ 281,754 Cash Accounts receivable 853,800 696,000 894,000 1,653,600 4,097,400 0.33 0.33 0.33 229,680 295,020 545,688 $ 1,352, 142 Inventory Property, plant, and equipment (PPE), net Total assets Liabilities and stockholders' equity Current liabilities L-T liabilities 508,800 0.33 $ 167.904 391,248 1,185,600 0.33 Common stock 200,000 250,000 1,953,000 0.14 0.14 APIC Ret, earnings 28,000 35,000 OX 4,097,400 $ 0.29 $ 0.29 0.29 0.29 $ 121,800 (33.640) (43.210) 24.592 69,542 $ Cumulative translation adjustment Total liabilities and equity Statement of cash flows: : Net income Change in accounts receivable Change in inventories Change in current liabilities Net cash from operating activities Change in PPE.net Net cash from investing activities Change in long-term debt Dividends Net cash from financing activities Net change in cash Effect of exchange rate on cash Beginning cash Ending cash 420,000 (116,000) (149,000) 84,800 239,800 (153,600) (153,600) 197,600 (42.000) 155,600 241,800 OX 0.3 0.31 59,280 (13,020) 46,260 612,000 853.800 0.26 0.29 x $ 159,120 247,602 X b. Compute the ending Cumulative Translation Adjustment directly, assuming a BOY balance of $(766,748). Round answers to the nearest dollar. Direct computation of translation adjustment: BOY net assets x (EOY - BOY exchange rates) Net income x (EOY - Average exchange rate) Dividends (EOY - Dividend exchange rate) $ OX OX 0 X F BOY cumulative translation adjustment EOY cumulative translation adjustment $