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please hell me asap i need this really bad with details please On December 31, Year 1. Kelly Corporation of Toronto paid 137 million Libyan

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On December 31, Year 1. Kelly Corporation of Toronto paid 137 million Libyan dinar (LYD) for 100% of the outstanding common shares of Arkenu Company of Libya On this date, the fair values of Arkenu's Identifiable assets and liabilities were equal to their carrying amounts. Arkenu's comparative balance sheets and Year 2 income statement are as follows: Current monetary assets Inventory Plant and equipment (net) BALANCE SHEET At December 31 Year 2 LYD 11.361,000 1,898,000 6,957.000 LYD 20,216,000 LYD 2,005,000 4,870,000 5,070,000 8,271,000 LYD 20, 216,690 Current monetary liabilities Bonds payable, due Dec. 31, Year 6 Connon shares Retained earnings Year 1 LYD 9,670,000 2,421,000 2363.000 LYD 19,454,000 LYD 2,433,000 4,870,000 5,070,000 7,081,000 LYD 19,454,000 INCOME STATEMENT For the year ended December 31, Year 2 Sales LYD 16.205,000 Inventory, Jan. 1 2,421,000 Purchases 10,938,000 Inventory, Dec. 31 (1,898,000) Depreciation expense 486, oee Other expenses 1,598,00 13,465,000 Activate Window INCOME STATEMENT For the year ended December 31 Year 2 Sales LYD 16, 206,000 Inventory. Jan. 1 2,421,000 Purchases 18,938,000 Inventory. Dec. 31 (1,898,000) Depreciation expense 406,000 Other expenses 1,598,000 13,465.000 Net Income LYD 2,741,090 Additional Information Exchange rates Dec 31, Year 1 Sep. 30, Year 2 Dec. 31, Year 2 Average for Year 2 LYDI - Se.52 LYD1 = 50.62 LYDI - $0.65 LYDI = $0.58 Arkenu Company declared and paid dividends on September 30. Year 2 The inventories on hand on December 31, Year 2. were purchased when the exchange rate was LYD1 = $0.63 INCOME STATEMENT For the veranded December 31. Year 2 Sales C$ 46,317,000 Dividend income from Arkenu 961,620 47, 278,620 Inventory. Jan. 1 3,532,000 Purchases 30,817,000 Inventory, Dec. 31 (2,900,000) Depreciation expense 717,000 Other expenses 12,387,000 45,044,000 Net Income cs 2,234,620 Additional Information . Exchange rates Dec. 31, Year 1 Sep. 39, Year 2 Dec. 31, Year 2 Average for Year 2 C51 - US$0.84 CS1 - US$0.32 C51 US$0.80 C$1 - US$0.83 Kelly Corporation declared and paid dividends on September 30. Year 2 The inventories on hand on December 31. Year 2. were purchased when the exchanoe rate was CS1=USSO 81 Activate Wind Kelly Corporation declared and paid dividends on September 30, Year 2 The inventories on hand on December 31 Year 2, were purchased when the exchange rate was C$1=US$0.81 The recoverable amount of Arkenu's goodwill increased during Year 2 The Canadian dollar is the functional currency for both Kelly Corporation and Arkenu Company Required: (a) Prepare Kelly Corporation's consolidated financial statements for Year 2 using the Canadian doltar as the presentation currency but in poltive values. Leave no cells blanke certain too wherever required to Consolidated Statement of Profit for the Year Ended December 31, Year 2 Sales Divided Income from Arkenu Tnventory. Jan. 1 Purchases Inventory, Dec. 31 Depreciation expense Other expenses Exchange loss (gain) Total expenses Profit Attributable tot NCI Shareholders of Kelly Corporation Activate Windows Hetained Earnings Statements for Year Ended December 31, Year 2 Balance, January 1 $ Profit Dividends Balance, December 31 Consolidated Statement of Financial Position at December 31, Year 2 Current monetary assets Inventory Investment in Arkenu - at cost plant and equipment (net) Goodwill $ Current monetary liabilities Bonds payable, due Dec. 31, Year 7 Common shares Retained earnings

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