Prepare a 2020 income statement in U.S dollars showing the translation.

Relevant exchange rate for the Euro for 2020 were as follows:

Jan. 1 Jun. 30 Oct. 31 Dec. 31 Average

1.37 1.40 1.42 1.45 1.41

bion Completion QUESTION 17 USE INFORMATION FOR PROBLEMS 17-20. USE TABLE FUNCTION On January 1 2020 Chardine, a US Company acquired 100% of the Knight Company located in Belgium Chard paid 30 milion euro (30.000.000 EU) which was equal to Knight's book and for alve Kriges balance sheet ur my 1 2020 was as follows (in EU) Cash 20.000.000 Accounts payable 34.000.000 Accounts Receivable 35.000.000 Long term debe 6.000.000 Plant and equipment, net 15.000.000 Common stock 10.000.000 Retained earnings 20 000 000 Total Assets 70.000.000 Total abilities and Stock's Equy 70.000.000 On December 31, 2020 Knight submitted the following trial balance for consolidation (credit bancin per EU) Cash 30,000,000 Accounts receivable 33,000,000 Plant and equipment, nel 13.000.000 Accounts payable 125.000.000 Long-term debit 15.000.000 Commonsi (10,000,000) Dividends paid - June 30, 2020 3.000.000 Retained ning 20.000.000 Sales 155.000000) Cost of sales 20.000.000 ReparJune 30, 2020 6.000.000 Depreciation expense 2.000.000 Erdinary pense-Otober 31, 2020 1.000.000 Click Save and Sund mit Chase Alerts alles SABA