The Useless Shoelace Co. of Pawtucket, RI, has a subsidiary in Japan. The subsidiary's statements are in JPY. The Balance Sheet includes the following items (expressed in mil. JPY): Accounts Receivable, 350; Current Liabilities, 300; Long Term Debt, 400; Inventory, 140; Common Stock, 240; Retained Earnings, 50; Net Fixed Assets, 400 . The subsidiary also has an amount of cash (also in mil. JPY). The current exchange rate (C) is JPY100=USD1. The historical exchange rate (H) is JPY80=USD1. a. Does the company have positive or negative net exposure? b. Assuming that the subsidiary's accounts are the same on 1/1 and 12/31, put together the 12/31 Balance Sheet in JPY and restate (translate) it in USD. The Current/NonCurrrent Translation method is in use. c. Did the company incur foreign exchange gains or losses at the end of the year? The Useless Shoelace Co. of Pawtucket, RI, has a subsidiary in Japan. The subsidiary's statements are in JPY. The Balance Sheet includes the following items (expressed in mil. JPY): Accounts Receivable, 350; Current Liabilities, 300; Long Term Debt, 400; Inventory, 140; Common Stock, 240; Retained Earnings, 50; Net Fixed Assets, 400 . The subsidiary also has an amount of cash (also in mil. JPY). The current exchange rate (C) is JPY100=USD1. The historical exchange rate (H) is JPY80=USD1. a. Does the company have positive or negative net exposure? b. Assuming that the subsidiary's accounts are the same on 1/1 and 12/31, put together the 12/31 Balance Sheet in JPY and restate (translate) it in USD. The Current/NonCurrrent Translation method is in use. c. Did the company incur foreign exchange gains or losses at the end of the year