(This problem is a continuation of the illustration presented in the chapter.) On January 2, 2014, P Company, a U.S.-based company, acquired for 2,000,000 francs an 80% interest in SFr Company, a Swiss company. On January 2, 2014, SFr Company reported a retained earnings balance of 480,000 francs. SFr's books are maintained in francs and are in conformity with U.S. generally accepted accounting principles. Trial balances of the two companies as of December 31, 2015, are presented here: Required: A. Prepare a translated balance sheet and combined statement of income and retained earnings for the subsidiary. B. Prepare a schedule to verify the translation adjustment