Translate the foreign currency (Euros) financial statements using the current rate method. The additional information is as follows.

• Relevant exchange rates for Year 1 are as follows (Per 1.00)
  • 1/1 $1.00
  • Average (Year 1) 0.90
  • 11/15 0.95
  • 12/1 0.91
  • 12/31 0.95
• All capital stock was issued on 1/1/Y1.

You can simply use the numbers [1], [2], instead of typing specific account titles in your answer. But, you must show the account title of the number [17].

Income Statement
For the Year 1 Ended December 31
	Euro		Translation Rate	$ U.S Dollar
Sales	8,000,000	[1]
Cost of Goods Sold	(6,000,000)	[2]
Gross Profit	2,000,000	[3]
Selling expenses	(500,000)	[4]
Net income	1,500,000	[5]
Statement of Retained Earnings
For the Year 1 Ended December 31
	Euro		Translation Rate	$ U.S Dollar
Retained earnings, 1/1/Y1	0	[6]
Net income, Year 1	1,500,000	[7]
Less: Dividend, 12/1/Y1	(325,000)	[8]
Retained earnings, 12/31/Y1	1,175,000	[9]
Balance Sheet
As of December 31, Year 1
	Euro		Translation Rate	$ U.S Dollar
Assets
Cash	1,830,000	[10]
Property, plant and equipment	1,075,000	[11]
Less: Accmulated depreciation	(400,000)	[12]
Total assets	2,505,000	[13]
Liabilities
Accounts payable	330,000	[14]
Total liabilities	330,000
Stockholders' equity
Capital stock	1,000,000	[15]
Retained earnings	1,175,000	[16]
		[17]
Total equity	2,175,000	[18]
Total liabilities and equity	2,505,000	[19]

show the math please