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: