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The OUI Company is a French Subsidiary of an American Company, YES Below is the financial statements for 2020 These statements are in Euros but

The OUI Company is a French Subsidiary of an American Company, YES
Below is the financial statements for 2020
These statements are in Euros but following U.S. GAAP
Balance Sheet
Income Statement
Cash 100,000 revenue 200,000
accounts rec 100,000 salary exp -40000
equipment 100,000 dep exp bldg -30000
a/d equip -30,000 dep exp equip -10,000
building 100,000 gain sale land 40000
a/d bldg -40000
net income 160,000
total assets 330,000
Other information:
accounts pay 100000 when YES Company purchased OUI Company stock 1 euro = $1.25
when OUI Company purchased equipment 1 euro = $1.15
c/s 200000 when OUI company purchased building 1 euro = $1.20
r/e 30000 when OUI Company paid a 150,000 dividend 1 euro = $1.31
when OUI Company sold the land 1 euro = $1.22
On 12/31/2019 retained earnings in dollars $42000
Average exchange rate during 2020 1 euro = $1.27
spot rate 12/31/2020 1 euro = $1.24

REQUIRED: WHEN THE EURO IS THE FUNCTIONAL CURRENCY OF OUI COMPANY CONVERT THE STATEMENTS INTO DOLLARS

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