Question Two: (20 marks) San is a 90% owned foreign subsidy of Pat company on January 1,2018 at book value equal to fair value in that date the exchange rate was $.24, San local currency is the functional currency. On May 1,2018 Pat made a 200,000 Local currency to San when the rate was 9.23. September rate was $.21, December 31 was$.20 and the average rate was $.22 Cash account/rec. Short term loan inventories Land Building Equipment Investment Cost of sales Depreciation Other expense Exchange losses Dividend Equity adjustment Sales Income from San Accumulated dep. Short term loan Account payable Ordinary shares Retained earning total Trail balance 31/12/2018: Pat San 25100 150000 90000 180000 46000 110000 230000 150000 250000 300000 600000 220000 800000 230000 400000 200000 81000 100000 200000 120000 30000 100000 100000 44000 (800000 (700,000) (55000) (1800000 (700,000) (230,000) (241100) (130,000) (500000 (800,000 (220000) (200,000) 0000 0000 Required: 1-Prepare a worksheet to translate San trial balance into S? 2- Journalize all entries in Pat company books? 3. Calculate the investment and non-controlling in31/12/2018? Question Two: (20 marks) San is a 90% owned foreign subsidy of Pat company on January 1,2018 at book value equal to fair value in that date the exchange rate was $.24, San local currency is the functional currency. On May 1,2018 Pat made a 200,000 Local currency to San when the rate was 9.23. September rate was $.21, December 31 was$.20 and the average rate was $.22 Cash account/rec. Short term loan inventories Land Building Equipment Investment Cost of sales Depreciation Other expense Exchange losses Dividend Equity adjustment Sales Income from San Accumulated dep. Short term loan Account payable Ordinary shares Retained earning total Trail balance 31/12/2018: Pat San 25100 150000 90000 180000 46000 110000 230000 150000 250000 300000 600000 220000 800000 230000 400000 200000 81000 100000 200000 120000 30000 100000 100000 44000 (800000 (700,000) (55000) (1800000 (700,000) (230,000) (241100) (130,000) (500000 (800,000 (220000) (200,000) 0000 0000 Required: 1-Prepare a worksheet to translate San trial balance into S? 2- Journalize all entries in Pat company books? 3. Calculate the investment and non-controlling in31/12/2018