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On January $1,20$X$1,$ Kiner Company formed a foreign subsidiary that issued all of its currently outstanding common stock on that date.

Selected accounts from the balance sheets, all of which are shown in local currency units LCU, are as follows:

Addltional Information:

Exchange rates are as follows:

January $1,28$X$1-$July $31,28$X$1$

August $1,2$ex$1-0$ctober $31,201$

November $1,20$X$1-$June $30,202$

July $1,28$x$2-$December $31,282$

Average monthly rate for $281$

Average monthly rate for $202$

On January $1,20$X$1,$ Kiner's foreign subsidiary purchased land for $26,000$LCU and plant and equipment for $140,000$ LCU. On July $4,$

$202,$ additional equipment was purchased for $37,000$ LCU. Plant and equipment is being depreciated on a straight$-$line basis over

a $10-$year period with no residual value. A full year's depreciation is taken in the year of purchase.

On January $15,20$X$1,7$ percent bonds with a face value of $120,000$ LCU were issued. These bonds mature on January $15,207,$ and

the interest is paid semiannually on July $15$ and January $15.$ The first interest payment was made on July $15,20$X$1.$

Required:

assuming that the local currency unit is the foreign subsidiary's functional currency.

Note: Round your dollar amounts to nearest whole dollar.