Translate Simber's 2020 financial statements into U.S. dollars and prepare a consolidation worksheet for Cayce and its Egyptian subsidiary. Assume that the Egyption pound is the subsidiary's functional currency. Complete this question by entering your answers in the tabs below. Prepare a Translation worksheet. (Round \"Exchange Rate\" answers to 3 decimal places, Round your \"Dollars\" answers to the nearest whole number. Input all amounts as positive values:) Complete this question by entering your answers in the tabs below. Prepare a Consolidation worksheet. (Round \"Exchange Rate\" answers to 3 decimal places. Input all amounts as positive values.) Additional Information - During 2019, the first year of joint operation, Simbel reported income of \\&E 186,000 earned evenly throughout the year. Simbel declared o dividend of CE 34,600 to Cayce on June 1 of that year. Simbel also declared the 2020 dividend on June 1. - On December 9, 2020, Simbel classified a \\( \\mathrm{CE} 12,300 \\) expenditure as a rent expense, although this payment related to prepayment of rent for the first few months of 2021 . . The exchange rates for \\( 1 \\mathrm{CE} \\) are as follows: Translate Simbel's 2020 financial statements into U.S. dollars and prepore a consolidation worksheet for Cayce and its Egyptian subsidiory. Assume that the Egyptian pound is the subsidiary's functional currency. Complete this question by entering your answers in the tabs below. Prepare a Translation worksheet. (Round \"Exchange Rate\" answers to 3 decimal places, Round your \"Dollars\" answers to the nearest whole number. Input all amounts as positive values.) On Janumy 12019, Cayce Corporation acquired 100 percent of Simbel Company for consideration transferred with a fair value of 5145,800. Coyce is a U.S, based company headquartered in Buffala, New York, and Simbel is in Cairo, Egypt Cayce accounts for its investment in Simbel under the initial value method. Any excess of fair value of conslderation transferred over book value is attributable to undervalued land on Simber's books. Simbel had no retained eamings at the date of acquisition. The following are the 2020 financial statements for the two operations. Information for Coyce and for Simbel is in U.S. dollars (\\$) and Egyptian pounds (fig), respectively. Additional Information - During 2019, the first year of joint operation, Simbel reported income of CE 186,000 earned evenly throughout the year. Simbel decisred ofividend of \\( \\mathrm{EF} 34,600 \\) to Cayce on June 1 of that yea. Simbel also declared the 2020 dividend on June 1. - On December 9, 2020, Simbel classified o IE 12,300 expenditure as a rent expense, although this payment related to prepayment of rent for the first few months of 2021 - The exchange rafes for 1 cE are as follows
