PROBLEM $13-5$Required:

$1.$Compute the account balances that would be reported for equipment, inventory, and marketable securities in the December $31,2019,$ balance sheet expressed in U$.$S$.$ dollars, assuming that the temporal method was used to translate the accounts.

$2.$Compute the depreciation expense and cost of goods sold for $2019$ in U$.$S$.$ dollars, assuming that the temporal method was used to translate the accounts.

$3.$ Repeat requirements $1$ and $2,$ assuming that the current rate method was used to translate the accounts.

$4.$ Contrast the effects on income from using the current rate method and the temporal method to translate cost of goods sold and depreciation expense. Explain why net income is increased or decreased when the accounts were translated using the current rate method.