rporation a British subsidiary of Polka Corporation (a U.S. company) was ed by Polka on January 1, 2014 in exchange for all of the subsidiary's common stock. he US dollar is Stripe's functional currency, but it keeps its records in pounds. Stripe has now ended its second year of operations on December 31, 2015. Relevant exchange rates are January 01, 2014-16-$1.60 April 01, 2014-16-$1.62 December 31, 2015 16-$1.57 2015 average rate 1E-$1.56 Retained Earnings-$365,000 Stripe's adjusted trial balance is presented below for the calendar year 2015. Required: Prepare Stripe's Remeasurement working papers. In Pounds In US dollars 172,00057 2Z00 308,000 57 7835co 98,0007 S 400,000 17 100,000 0 10,000 117,000 s6 720 Cash Accounts receivable Notes receivable Building Land Depreciation expense Other expenses Salary expense 376000 131 Total debits Credits Accumulated depreciation E1 17,500 200,000 550,000 | |-60 213,500 e 600,000 1157 c0 Accounts payable Common stock Retained earnings Sales revenue dco Total credits 61.581.000