Translation of financial statements and consolidation of a foreign subsidiary (amortization of AAP) Assume that your company owns a subsidiary operating in Brazil. The subsidiary maintains its books in the Brazilian real (BRL) as its functional currency. The relevant exchange rates for the $US value of the Brazilian real (BRL) are as follows: BOY rate $0.21 EOY rate $0.28 Avg. rate $0.24 PPE purchase date rate $0.25 LTD borrowing date rate $0.25 Dividend rate $0.26 Historical rate (common stock and APIC) $0.09 Round answers to the nearest dollar. Use rounded answers for subsequent calculations. Use negative signs with answers that are reductions (COGS, expenses, dividends, cash outflows, losses, etc.). a. Translate the subsidiary's income statement, statement of retained earnings, balance sheet, and statement of cash flows into $US (assume that the BOY Retained Earnings is $396 Use a negative sign with your answers in the "Subsidiary (in $)" column if corresponding figure in the "Subsidiary (in R$)" is shown in par

1. coenpute the bulance of the Equty investment account of $976.976 on the porents balance sheet. Use a negative siga with answers that reduce the equatyinerstment balunce 2. Compul the equity incorne of 5135,120 reportes by the parent in iss incorve statement Use a negative sign wath your answer, if it reduces the income. Transtation of financial statements and consolidation of a forelgn subsidiary (amertization of AAP) Round answers to the nearest dollar, Use rounded answers for subsequent calculations. Use negative signs with answers that are reductions (COGS, expenses, dividends, cash cutflown, losses, etc.). and Changes in acceunts in the Statement of Canh Flows) Check d. Using your translated subsidiary financial statements from Part a and the parent's financial data provided in Part c, prepare the consolidation spreadsheet for the year. Use negative signs with your answers in the Consolidated column for: Cost of goods sold, Operating expenses and Dividends. C. Following are selected balance sheet accounts for the parent