Translation and Remeasurement of Account Balances U.S. Industries has a subsidiary in Switzerland. The subsidiary's financial statements are maintained in Swiss francs (CHF). Exchange rates (S/CHF) for selected dates are as follows: January 1, 2021 $1.02 November 30, 2023 $1,10 January 1, 2022 1.04 December 31, 2023 1.12 Average for 2023 1.15 The following items appear in the subsidiary's trial balance at December 31, 2023: 1. Cash in bank, CHF4,000,000. 2. Inventory, CHF3,000,000. The inventory was acquired on November 30, 2023. 3. Machinery and equipment, CHF12,000,000. A review of the records indicates that the company bought equipment costing CHF5,000,000 on January 1, 2021 and additional equipment costing CHF7,000,000 on January 1, 2022. Ignore accumulated depreciation. 4. Depreciation expense on machinery and equipment, CHF1,200,000 (depreciated over ten years, straight-line basis). Required Calculate the dollar amount for each of the above items, assuming the functional currency of the Swiss subsidiary is (a) the U.S. dollar and (b) the Swiss franc. Enter answers using all zeros (do not abbreviate to millions or thousands). Cash $ Inventory $ (a) 4,480,000 3,300,000 $ (b) $ 4,480,000 3,360,000 Machinery and equipment $ 11,360,000 $ 13,440,000 Depreciation expense $ 1,136,000 * $ 1,380,000 Check