Translated and Remeasured Financial Statements StopnShop was organized in Hong Kong on January 1,2020, with a capital stock issue that yielded HK$100 million. The exchange rate at that date was $0.10/HKS. Transactions for 2020 and the relevant exchange rates are shown below. The average exchange rate for 2020 was S0.15/HKS , and the ending exchange rate was S0.20/HKS On January 5, equipment was purchased for HK$40 million in cash. The exchange rate was $0.11/ HKS. The equipment is straight-line depreciated over 10 years Merchandise purchases of HK$250 million were made evenly throughout the year. StopnShop uses FIFO and its 2020 ending inventory cost HK$20 million and was acquired on December 20, when the exchange rate was $0.14/HK$. At year-end, StopnShop owed HK$25 million to suppliers. Merchandise sales of HK$260 million were made evenly throughout the year. At year-end, customers owed HK$10 million to StopnShop. Operating expenses of HK$25 million, paid in cash, were incurred evenly throughout the year. Prepare StopnShop's December 31, 2020 trial balance, in U.S. dollars, assuming its functional currency is (a) the U.S dollar, and (b) the Hong Kong dollar. Show your calculation of the 2020 remeasurement and translation gain or loss in P7.10 in the Excel file provided Translated and Remeasured Financial Statements StopnShop was organized in Hong Kong on January 1,2020, with a capital stock issue that yielded HK$100 million. The exchange rate at that date was $0.10/HKS. Transactions for 2020 and the relevant exchange rates are shown below. The average exchange rate for 2020 was S0.15/HKS , and the ending exchange rate was S0.20/HKS On January 5, equipment was purchased for HK$40 million in cash. The exchange rate was $0.11/ HKS. The equipment is straight-line depreciated over 10 years Merchandise purchases of HK$250 million were made evenly throughout the year. StopnShop uses FIFO and its 2020 ending inventory cost HK$20 million and was acquired on December 20, when the exchange rate was $0.14/HK$. At year-end, StopnShop owed HK$25 million to suppliers. Merchandise sales of HK$260 million were made evenly throughout the year. At year-end, customers owed HK$10 million to StopnShop. Operating expenses of HK$25 million, paid in cash, were incurred evenly throughout the year. Prepare StopnShop's December 31, 2020 trial balance, in U.S. dollars, assuming its functional currency is (a) the U.S dollar, and (b) the Hong Kong dollar. Show your calculation of the 2020 remeasurement and translation gain or loss in P7.10 in the Excel file provided