Sendelbach Corporation is a US.-based organization with operations throughout the world. One of its subsidatles is headquartered in Toronto. Although this wholly owned company operates primarily in Canada. it engages in some transactions through a branch in Mexico. Therefore, the subsidiary maintains a ledger denominated in Mexican pesos (Ps) and a general ledger in Canadian dollars (CS). As of December 31,2020 , the subsidiaty is preparing financial statements in anticipation of consolidation with the U.S. parent corporation. Both ledgers for the subsidiary are as follows: Additional Information - The Canadian subsidiary's functional currency is the Canadian dollar, and Sendelbach's reporting currency is the U.S. dollar. The Canadian and Mexican operations are not viewed as separate accounting entities. - The bullding and equipment used in the Mexican operation were acquired in 2010 when the currency exchange rate was C50.22= Ps 1. - Purchases of inventory were made evenly throughout the fiscal year, - Beginning inventory was acquired evenly throughout 2019; ending inventory was acquired evenly throughout 2020. - The Main Office account on the Mexican records should be considered an equity account. This balance was remeasured into c\$7,895 on December 31,2020 - Currency exchange rates for 1 Ps applicable to the Mexican operation follow: - The December 31,2019 , consolidated balance sheet reported a cumulative translation adjustment with a $50,950 credit (positive) balance. - The subsidiary's common stock was issued in 2007 when the exchange rate was $0.43=C$1. - The subsidiary's December 31,2019 , retained eamings balance was C$149,590, an amount that has been translated into U.S.\$71.043. - The appllicable currency exchange rates for 1C$ for translation purposes are as follows: o. Remeasure the Mexican operation's account balances into Canadian dollars. (Note: Back into the beginning net monetary asset or liability position.) b. Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in Its functional currency, Canadian dollars. c. Iranslate the Canadian dollar functional currency financial statements into U.S. dollars so that Sendelbach can prepare consolidated financial statements. Complete this question by entering your answers in the tabs below. Remeasure the Mexican operation's account balances into Canadian dollars. (Note: Back into the beginning net monetary asset or tiability position.) (Input all amounts as positive values.) b. Prepare flnancial statements (income statement, statement of retained earnings, and tralance sheet) for the Canadian subsidiary in its functional currency, Canadian dollars. c. Translate the Canadian dollar furictional currency financial statements into U.S. dollars 50 that Sendelbach can prepare consolidated financlal statements. (Round U.S. Dollar values to 2 decimal plases. Amounts to be deducted and losses should be indicated with a minus sign.) Show lessia Sendelbach Corporation is a US.-based organization with operations throughout the world. One of its subsidatles is headquartered in Toronto. Although this wholly owned company operates primarily in Canada. it engages in some transactions through a branch in Mexico. Therefore, the subsidiary maintains a ledger denominated in Mexican pesos (Ps) and a general ledger in Canadian dollars (CS). As of December 31,2020 , the subsidiaty is preparing financial statements in anticipation of consolidation with the U.S. parent corporation. Both ledgers for the subsidiary are as follows: Additional Information - The Canadian subsidiary's functional currency is the Canadian dollar, and Sendelbach's reporting currency is the U.S. dollar. The Canadian and Mexican operations are not viewed as separate accounting entities. - The bullding and equipment used in the Mexican operation were acquired in 2010 when the currency exchange rate was C50.22= Ps 1. - Purchases of inventory were made evenly throughout the fiscal year, - Beginning inventory was acquired evenly throughout 2019; ending inventory was acquired evenly throughout 2020. - The Main Office account on the Mexican records should be considered an equity account. This balance was remeasured into c\$7,895 on December 31,2020 - Currency exchange rates for 1 Ps applicable to the Mexican operation follow: - The December 31,2019 , consolidated balance sheet reported a cumulative translation adjustment with a $50,950 credit (positive) balance. - The subsidiary's common stock was issued in 2007 when the exchange rate was $0.43=C$1. - The subsidiary's December 31,2019 , retained eamings balance was C$149,590, an amount that has been translated into U.S.\$71.043. - The appllicable currency exchange rates for 1C$ for translation purposes are as follows: o. Remeasure the Mexican operation's account balances into Canadian dollars. (Note: Back into the beginning net monetary asset or liability position.) b. Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in Its functional currency, Canadian dollars. c. Iranslate the Canadian dollar functional currency financial statements into U.S. dollars so that Sendelbach can prepare consolidated financial statements. Complete this question by entering your answers in the tabs below. Remeasure the Mexican operation's account balances into Canadian dollars. (Note: Back into the beginning net monetary asset or tiability position.) (Input all amounts as positive values.) b. Prepare flnancial statements (income statement, statement of retained earnings, and tralance sheet) for the Canadian subsidiary in its functional currency, Canadian dollars. c. Translate the Canadian dollar furictional currency financial statements into U.S. dollars 50 that Sendelbach can prepare consolidated financlal statements. (Round U.S. Dollar values to 2 decimal plases. Amounts to be deducted and losses should be indicated with a minus sign.) Show lessia