The OUl Company is a French Company which was purchased by the YES Company which is an American Company in 2010 The Financial Statements of OUI Company in Euros but following U.S. GAAP are as follows: in Euros) Income Statement For Year 2017 OUl Company sales cost of goods sold gross profit depreciation building depreciation equipment operating expenses gain on sale of land income 800000 300,000 500,000 100,000 50,000 100,000 300,000 550,000 31-Dec-17 Balance Sheet OUl Company cash accounts receivable inventony equipment (net) building (net) land 500,000 500,000 1,000,000 1,000,000 8,000,000 1,000,000 total assets 12,000,000 accounts payable note payable 2,000,000 2,000,000 common stock 5,000,000 retained earnings 3,000,000 additional information: When YES Company purchased the stock of OUl Company; the Euro was worth $1.25 When OUI Company purchased the building, the Euro was worth $1.10 When OUl Company purchased the equipment the Euro was worth $1.04 When OUI Company purchased the land the Euro was worth $1.11 During 2017 the average rate was 1 Euro worth $1.07 On December 31, 2017 the Euro is worth $1.01 On December 31, 2016 The Retained Earnings of OUl in dollars was $4,000,000 OUl sold the land on August 20th when the Euro was worth $1.01 On October 4th OUl paid a 800,000 dividend when the dividend was worth $1.09 REQUIRED: PREPARE A BALANCE SHEET, INCOME STATEMENT AND STATEMENT OF RETAINED EARNINGS IN DOLLARS IF THE EURO IS THE FUNCTIONAL CURRENCY