Quadros Inc., a Portugese firm was acquired by a U.S. company on January 1, 2010. Selected account balances are available for the year ended December 31, 2011, and are stated in euro, the local currency. Sales 6400,000 Inventory ( bought on February 1, 2011) 20.000 Equipment (bought on January 1, 2010) 90,000 Dividends (paid on September 1. 20]1) 20,000 Accumulated depreciation -Equipment 12/31/11 45,000 Depreciation expense - Equipment, 2011 9.000 Relevant exchange rates for I euro are given below January 1, 2010 $ 91 January 1, 2011 93 February 1. 2011 94 September 1. 201 1 97 December 31, 2011 1.01 4thquarter average, 2010 90 4thquarter average, 201 1 98 Average. 2011 95