This information applies to questions 2 through 4.

Sullivan's Island Company began operating a subsidiary in a foreign country on January 1, 2017, by investing capital in the amount of 94,000 pounds. The subsidiary immediately borrowed 225,000 pounds on a five-year note with 9 percent interest payable annually beginning on January 1, 2018. The subsidiary then purchased for 319,000 pounds a building that had a 10-year expected life and no salvage value and is to be depreciated using the straight-line method. Also on January 1, 2017, the subsidiary rented the building for three years to a group of local attorneys for 6,000 pounds per month. By year-end, rent payments totaling 60,000 pounds had been received, and 12,000 pounds was in accounts receivable. On October 1, 4,100 pounds was paid for a repair made to the building. The subsidiary transferred a cash dividend of 5,600 pounds back to Sullivan's Island Company on December 31, 2017. The functional currency for the subsidiary is the pound. Currency exchange rates for 1 pound follow:

January 1, 2017	$	2.60	=	1 Pound
October 1, 2017		2.65	=	1
December 31, 2017		2.68	=	1
Average for 2017		2.64	=	1

Prepare an income statement, statement of retained earnings, and balance sheet for this subsidiary in pounds and then translate these amounts into U.S. dollars. What amounts would be reported, in U.S. dollars, for Net Income, Ending Retained Earnings, and the Cumulative Translation Adjustment? Debit (negative) values should include a negative sign. Do not include commas.

Net Income: $

Ending Retained Earnings: $

Cumulative Translation Adjustment: $