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 oul company purchased building 1 euro = $1.20 re 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