The Trial Balance of the Paris Branch of Cisalpine Company on Dec 31, 200X is presented below:

Balance in Euros

Cash 300,000

Inventory 120,000

Common Stock (400,000)

Retained Earnings ( 7,000)

Sales (120,000)

Cost of Goods Sold 85,000

Operating expenses 22,000

Conversion rates:

Current One Euro = $1.08

Average One Euro = $1.07

Historic One Euro = $1.06

US Dollars are the functional and reporting currency.

Complete the remeasurement of the Paris Branch to US dollars (the functional currency) on December 31, 200X.