Tampa Education Center Corporation was created as a wholly owned

subsidiary of Saint Leo Corporation $($a U$.$S$.-$based company$)$ on

January $1,$ Year $1.$ On that date, Saint Leo Corporation invested

$$42,000$ in Tampa Education Center Corporation's capital stock. Given

the exchange rate on that date of $$0\mathrm{.}84$ per cruzeiro, the initial

investment of $$42,000$ was converted into $50,000$ cruzeiros $(Cz).$ Other

than the capital investment on January $1,$ there were no transactions

involving stockholders' equity in Year $1.$ Tampa Education Center

Corporation's cruzeiro$-$denominated financial statements for Year $2$ are

as follows: