PRONTER VERSION NEXT CALCULATOR BACK On January 1, 2014, Trenten Systems, a U.S.-based company, purchased a controlling interest in Grant Management Consultants located in Zurich, Switzerland. The acquisition was treated as a purchase transaction. The 2014 financial statements stated in Swiss francs are given below. GRANT MANAGEMENT CONSULTANTS Comparative Balance Sheets January 1 and December 31, 2014 Jan. 1 Dec. 31 Cash and Receivables 20,300 55,600 Net Property, Plant, and Equipment 40,100 36,300 Totals 60,400 91,900 Accounts and Notes Payable 29,900 31,600 Common Stock 20,100 20,100 Retained Earnings 10,400 40,200 Totals 60,400 91,900 GRANT MANAGEMENT CONSULTANTS Consolidated Income and Retained Earnings Statement for the Year Ended December 31, 2014 Revenues 74,400 Operating Expenses including Depreciation of 3,800 francs 29,700 Net Income 44,700 Dividends Declared and Paid 14,900 Increase in Retained Earnings 29,800 Direct exchange rates for Swiss franc are: January 1, 2014 December 31, 2014 Average for 2014 Dividend declaration and payment date Dollars per Franc $0.5987 0.5321 0.5654 0.5810 MacBook RCES CALCULATOR PRINTER VERSION