Ron Abrams, VP Operations for Wilson Bros. has come wandering into your office muttering under his breath (clearly exasperated) after reading the financial statements for one of the plants in Western Europe.  After composing himself somewhat he says, "How can a Canadian finance executive sign off on these statements? They look nothing like any statement I've seen in Canada before!  I know we paid a translator to present these in English, but I cannot make heads or tails of these.  Are we profitable there or not?"

Knowing what you have read about briefly describe if these statements could be correct, and if so why?