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 100) 11 $1.00 Average (Year 1) 0.90 11/15 0.95 1271 0.91 - 12/31 0.95 All capital stock was issued on 1/1/41, You can simply use the numbers (11 (2).... instead of typing specific account titles in your answer. But, you must show the account title of the number [171 SUS Dollar Income Statement For the Year 1 Ended December 31 C Euro Sales 8,000,000 Cost of Goods Sold 16,000,000) Gross Profit 2.000.000 Selling expenses (500,000) Net income 1.500.000 10 [2] [3] [41 (5) Translation Rate SUS Dollar Statement of Retained Earnings For the Year Ended December 31 C Euro Retained earnings. 11/21 O Net income. Yeart 1.500.000 Less Dividend, 12/1/11 (325,000) Retained earnings, 12/3141 1175.000 16) 17 8 19) Tramonte SUS Dollar [10] [19 Balance Sheet As of December 31 Year 1 Euro Assets Cash 1.830,000 Property, plant and equipment 1,075,000 Less: Accmulated depreciation (400,000) Total assets 2,505.000 Liabilities Accounts payable 330,000 Total abilities 330.000 (12) (13) [14 Next