Relevant exchange rates for the Euro for 2020 were as follows: Jan 1- 1.37 Jun. 30- 1.40

Oct. 31- 1.42 Dec. 31- 1.45 Average- 1.41

Prepare a statement of retained earnings for 2020 for Knights in U.S dollars. Show the translation.

On January 1, 2020 Chard Incaus Company acquired 100% of the Knight Company located in Belgium Chard paid 30 milion euros (30.000.000 EU) which was equal to Knights book and for a righe balance the day 1, 2020 was as follows (in EU) Cash 20.000.000 Accounts payable 34 600 000 Accounts Receivable 35.000.000 Long-term debt 5 000 000 plant and equipment ne 15.000.000 Common stock 10 000 000 Ratind can 20.000.000 Total Assets 70.000.000 Totallabled Stock's Equity 70 000 000 On December 31, 2020, Knight submitted the following trial balance for condition (edit hocesin per EU) Cash 30,000,000 Accounts receivable 33.000000 plant and mental 13.000.000 Accounts payable (25 000 000 Long-term st 15.000.000 Common stoc (10.000000 Dividende pad - June 10, 2020 3.000.000 20.000.000 195.000.000) Custofa 28.000.000 Rupa June 30, 2020 6 000 000 Depreciation expense 2,100.00 Einary expense-Oaber 1.2020 1.000.000