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Requirements: 1 . Complete the chart above by translating the statements using the Current Rate Method ( assume a 1 / 1 RE credit balance

Requirements:
1. Complete the chart above by translating the statements using the Current Rate Method (assume a 1/1 RE credit balance of $2,340k) and re-measuring the statements using the Temporal Method (assume a 1/1 RE credit balance of $2,700k). ROUND ALL NUMBERS TO THE NEAREST WHOLE NUMBER.
2. Specify the amount of the adjustment needed to make the financial statements balance and indicate whether it is a gain or loss under Current Rate and Temporal methods.
3. Prepare a comparison of profitability and long-term solvency of the subsidiary in the foreign currency, after translation and after re-measurement. REPORT ALL PERCENTAGES WITH ONE DECIMAL POINT (i.e.14.2% or 12.3)
4. Ultimately, does the method used to adjust the foreign currency financial statements into US dollars impact the actual performance of the subsidiary? Explain
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