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Translation of financial statements A U.S. Based MNC has a subsidiary in France (local currency, euro. ). The balance sheet and income statement of the subsidiary follow on December 31, 2015, the exchange rate is US$1.15/6. Assume that the local (euro) figures for the statements remain the same on December 31, 2016. Calculate the U.S. dollar translated figures for the two ending time periods, assuming that between December 31, 2016 and December 31, 2016, the euro has appreciated against the U.S. dollar by 6%. (Hint: When calculating the exchange rate for December 31, 2016 values, round the rate to four decimal Data Table Translation of Income Statement December 31, 2015 Euro US$ 40,000.00 32,000.00 7,200.00 December 31, 2016 US$ Sales Cost of goods sold Operating profits The sales on December 31, 2015 are 5 (Round to the nearest cent.) The cost of goods sold on December 31, 2016 in S. (Round to the nearest cent) The operating profits on December 31, 2015 are $(Round to the nearest cent) The sales on December 31, 2016 is $. (Round to the nearest cont.) The cost of goods sold on December 31, 2016 in S. (Round to the nearest cent) The operating profits on December 31, 2016 ore 8. (Round to the nearest cent.) The cash on December 31, 2015 $(Round to the nearest cent) The inventory on December 31, 2015 $. (Round to the nearest cont.) The not plant and equipment on December 31, 2015 is $]). Round to the nearest cent The total assets on December 31, 2015 are $(Round to the nearest cent) The debt on December 31, 2015 is 5 (Round to the nearest cent.) The paid.in capital on December 31, 2015 is $(Round to the nearest cent) The retained earnings on December 31, 2015 is $(Round to the nearest cont.) The totai labilities and stockholders' equity on December 31, 2015 are $ (Round to The cash on December 31, 2016 is $(Round to the nearest cent.) The inventory on December 31, 2016 in (Round to the nearest cent.) December 31, 2016 US$ Translation of Balance Sheet December 31, 2015 Assets Euro USS Cash 72.00 Inventory 522.00 Plant and equipment (net) 305.00 Total 900.00 Liabilities and Stockholders' equity Debt 495.00 Paid in capital 135.00 Retained Earnings 270.00 Total 900.00 Print Translation of financial statements AU.S.-based MNC has a subsidiary in France (local currency, euro, ). The balance sheet and income statement of the subsidiary follow me on December 31, 2015, the exchange rate is US$1.15/ Assume that the local (euro) figures for the statements remain the same on December 31, 2016. Calculate the U.S. dollar translated figures for the two ending time periods, assuming that between December 31, 2015 and December 31, 2016, the euro has appreciated against the U.S. dollar by 0% (Hint When calculating the exchange rate for December 31, 2016 values, round the rate to four decimal places.) The cash on December 31, 2015 is $(Round to the nearest cent) The inventory on December 31, 2015 is $(Round to the nearest cent) The net plant and equipment on December 31, 2015 ${Round to the nearest cent.) The total assets on December 31, 2015 are $ (Round to the nearest cont.) The debt on December 31, 2015 is $(Round to the nearest cant) The paid in capital on December 31, 2015 a $(Round to the nearest cent) The retained earnings on December 31, 2015 as (Round to the nearest cent) The total liabilities and stockholders equity on December 31, 2015 a $(Round to the nearest cent) The oath on December 31, 2016 is $(Round to the nearest cent) The inventory on December 31, 2016 $. Round to the nearest cent) The net plant and equipment on December 31, 2016 is $. (Round to the nearest cent) The total assets on December 31, 2016 in $| Round to the nearest cent.) The debt on December 31, 2016 Round to the nearest cent.) The paid-in capital on December 31, 2016 is $(Round to the nearest cont.) The retained eamings on December 31, 2016 is $1(Round to the nearest cont.) The total liabilities and stockholders' equity on December 31, 2016 are $ (Round to the nearest cent)
