Problem 3. This is a continuation of Sar's second year of operations. Sar Corporation, a British subsidiary of a acon, a British subsidiary of Park Carneration (a US company) was formed by Park on January 1, 2017 in exchange for all of the subsidiary's common stock, a 2018. Relevant exchange rates are: w of the subsidiary's common stock. Sar has now ended its second year of operations on December 31. January 01, 2017 1 =$1.50 December 31, 2018 1 =$1.65 2018 average rate 1 - $1.63 Sar's adjusted trial balance is presented below for the calendar year 2018. The amount of equity adjustment carried over from 2017 is a credit balance of $41,250 (in dollars). In Pounds Debits: Cash 75,000 Accounts receivable 362,000 Inventory 41,000 Building 400,000 Land 100,000 Depreciation expense 10,000 Other expenses 133,000 Cost of good sold 380,000 Total debits 1,501,000 Credits Accumulated depreciation 17,500 Accounts payable 154,750 Common stock 450,000 Retained earnings 262,500 Sales revenue 616,250 Total credits 1,501,000 Instructions: For Sar's second year of operations, prepare the: 1. Translated trial balance; 2. Translated income statement; and 3. Translated balance sheet