please help me to calculate the Remeasuement gain or loss (HW due date is within an hour)

Remeasurement of financial statements Assume that your company owns a subsidiary operating in Australia. The subsidiary has adopted the Australian Dollar (AUD) as its functional currency. Your parent company operates this subsidiary like a division or a branch office, making all of its operating decisions, including pricing of its products. You conclude, therefore, that the functional currency of this subsidiary is the $US and that its financial statements must be remeasured using the temporal method prior to consolidation. The subsidiary's financial statements (in AUD) for the most recent year follow in part a. below: The relevant exchange rates for the $US value of the Australian Dollar (AUD) are as follows: BOY rate $0.78 EOY rate $0.95 $0.85 Avg. rate Dividend rate $0.94 Historical rates: Beginning inventory $0.78 Land $0.62 Building $0.63 Equipment $0.64 Historical rate (common stock and APIC) $0.50 For parts a. and b. below, use a negative sign with answers to indicate a reduction. a. Remeasure the subsidiary's income statement, statement of retained earnings, and balance sheet into $US using the temporal method for the current year (assume that the BOY Retained Earnings is $1,083,724). Round all answers in the "In US Dollars" column to the nearest dollar. Remeasure Rate In US Dollars 0.78 $ 581100 0.85 1656650 0.95 -849300 $ 1388450 0.62 $ 405232 0.63 756000 0.63 -378000 0.64 512000 0.64 -256000 $ 1039232 0.63 $ 37800 (in AUD) Beginning inventory $745,000 Purchases 1,949,000 Ending inventory (894,000) Cost of goods sold $1,800,000 Land $653,600 Building 1,200,000 Accum.deprec.-building (600,000) Equipment 800,000 Accum.deprec.-equipment (400,000) Property, plant, and equipment (PPE), net $1,653,600 Depreciation expense-building $60,000 Depreciation expense-equipment 80,000 Depreciation expense $ 140,000 Income statement: Sales $3,000,000 Cost of goods sold (1,800,000) Gross profit 1,200,000 Operating expenses (640,000) Depreciation (140,000) Remeasurement loss Net income $420,000 Statement of retained earnings: BOY retained earnings $1,575,000 Net income 420,000 0.64 51200 $ 89000 0.85 $ 2550000 1388450 3938450 0.85 -544000 89000 0 $ 0 $ 0 0 Statement of retained earnings: BOY retained earnings $ 0 Net income 0. $1,575,000 420,000 (42,000) $1,953,000 Dividends 0.94 0 $ 0 Ending retained earnings Balance sheet: Assets Cash $853,800 0.95 $ 0 Accounts receivable 0.95 0 0 Inventory Property, plant, and equipment (PPE), net 696,000 894,000 1,653,600 $4,097,400 0 Total assets $ 0 0.95 $ 0 Liabilities and stockholders' equity Current liabilities Long-term liabilities Common stock 0.95 0 0.5 0 $508,800 1,185,600 200,000 250,000 1,953,000 $4,097,400 APIC 0.5 0 0 Retained earnings Total liabilities and equity $ 0 b. A Compute the remeasurement gain or loss directly assuming BOY net monetary assets of (513,600), a net monetary liability. Round all answers to the nearest dollar. Change in net monetary assets: $ 0 Chg net monetary assets x (EOY - Avg exchange rate) 0 0 A $ 0 Remeasurement of financial statements Assume that your company owns a subsidiary operating in Australia. The subsidiary has adopted the Australian Dollar (AUD) as its functional currency. Your parent company operates this subsidiary like a division or a branch office, making all of its operating decisions, including pricing of its products. You conclude, therefore, that the functional currency of this subsidiary is the $US and that its financial statements must be remeasured using the temporal method prior to consolidation. The subsidiary's financial statements (in AUD) for the most recent year follow in part a. below: The relevant exchange rates for the $US value of the Australian Dollar (AUD) are as follows: BOY rate $0.78 EOY rate $0.95 $0.85 Avg. rate Dividend rate $0.94 Historical rates: Beginning inventory $0.78 Land $0.62 Building $0.63 Equipment $0.64 Historical rate (common stock and APIC) $0.50 For parts a. and b. below, use a negative sign with answers to indicate a reduction. a. Remeasure the subsidiary's income statement, statement of retained earnings, and balance sheet into $US using the temporal method for the current year (assume that the BOY Retained Earnings is $1,083,724). Round all answers in the "In US Dollars" column to the nearest dollar. Remeasure Rate In US Dollars 0.78 $ 581100 0.85 1656650 0.95 -849300 $ 1388450 0.62 $ 405232 0.63 756000 0.63 -378000 0.64 512000 0.64 -256000 $ 1039232 0.63 $ 37800 (in AUD) Beginning inventory $745,000 Purchases 1,949,000 Ending inventory (894,000) Cost of goods sold $1,800,000 Land $653,600 Building 1,200,000 Accum.deprec.-building (600,000) Equipment 800,000 Accum.deprec.-equipment (400,000) Property, plant, and equipment (PPE), net $1,653,600 Depreciation expense-building $60,000 Depreciation expense-equipment 80,000 Depreciation expense $ 140,000 Income statement: Sales $3,000,000 Cost of goods sold (1,800,000) Gross profit 1,200,000 Operating expenses (640,000) Depreciation (140,000) Remeasurement loss Net income $420,000 Statement of retained earnings: BOY retained earnings $1,575,000 Net income 420,000 0.64 51200 $ 89000 0.85 $ 2550000 1388450 3938450 0.85 -544000 89000 0 $ 0 $ 0 0 Statement of retained earnings: BOY retained earnings $ 0 Net income 0. $1,575,000 420,000 (42,000) $1,953,000 Dividends 0.94 0 $ 0 Ending retained earnings Balance sheet: Assets Cash $853,800 0.95 $ 0 Accounts receivable 0.95 0 0 Inventory Property, plant, and equipment (PPE), net 696,000 894,000 1,653,600 $4,097,400 0 Total assets $ 0 0.95 $ 0 Liabilities and stockholders' equity Current liabilities Long-term liabilities Common stock 0.95 0 0.5 0 $508,800 1,185,600 200,000 250,000 1,953,000 $4,097,400 APIC 0.5 0 0 Retained earnings Total liabilities and equity $ 0 b. A Compute the remeasurement gain or loss directly assuming BOY net monetary assets of (513,600), a net monetary liability. Round all answers to the nearest dollar. Change in net monetary assets: $ 0 Chg net monetary assets x (EOY - Avg exchange rate) 0 0 A $ 0