ranslation of Foreign Currency Financial Statements Attempt the problem below as a practice In preparation for the final exam. The Condensed Statement of Financial Position and Income Statements of Larry Co. and its Overseas (foreign) Subsidiary Shack Co. are shown below: STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2014 Larry $$ $$ Shack fE Assets Non-current Assets 880 500 uipment cost: Less: accumulated depreciation (350) Investment in Shack 100 shares 459 (200) 200 200 at l each 650 300 Current Assets Inventories Accounts Receivable 800 1000 500 180 350 2450 850 1150 Eauity and Liabilities uit Equity Share $1/E1 Reserves 1000 850 500 350 1850 850 200 100 1150 Long term liabilities Current liabilities 200 2450 Condensed Income Statements of Larry Co. and its overseas subsidiary Shack Co. for the year ended December 31, 2014 ranslation of Foreign Currency Financial Statements Attempt the problem below as a practice In preparation for the final exam. The Condensed Statement of Financial Position and Income Statements of Larry Co. and its Overseas (foreign) Subsidiary Shack Co. are shown below: STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2014 Larry $$ $$ Shack fE Assets Non-current Assets 880 500 uipment cost: Less: accumulated depreciation (350) Investment in Shack 100 shares 459 (200) 200 200 at l each 650 300 Current Assets Inventories Accounts Receivable 800 1000 500 180 350 2450 850 1150 Eauity and Liabilities uit Equity Share $1/E1 Reserves 1000 850 500 350 1850 850 200 100 1150 Long term liabilities Current liabilities 200 2450 Condensed Income Statements of Larry Co. and its overseas subsidiary Shack Co. for the year ended December 31, 2014