Translation of financial statements

Assume that your company owns a subsidiary operating in Great Britain. The subsidiary maintains its books in the British pound (GBP) as its functional currency. The subsidiary's financial statements (in GBP) for the most recent year follow in part a. below:

The relevant exchange rates for the $US value of the British pound (GBP) are as follows:

BOY rate	$1.40
EOY rate	$1.47
Avg. rate	$1.43
PPE purchase date rate	$1.44
LTD borrowing date rate	$1.44
Dividend rate	$1.45
Historical rate (common stock and APIC)	$1.20

please answer part b

b. Compute the ending Cumulative Translation Adjustment directly, assuming a BOY balance of $1,916,550.

Direct computation of translation adjustment:
AnswerBOY cumulative translation adjustmentBOY net assets x (EOY - BOY exchange rates)BOY net assets x BOY exchange rateNet income x (EOY - Average exchange rate)Net income x average exchange rateDividends x (EOY - Dividend exchange rate)Dividends x dividend exchange rateEOY net assets x EOY exchange rateEOY cumulative translation adjustmentTranslation adjustment for the year	Answer
Net income x EOY -Avg. Exchange rates	Answer
AnswerBOY cumulative translation adjustmentBOY net assets x (EOY - BOY exchange rates)BOY net assets x BOY exchange rateNet income x (EOY - Average exchange rate)Net income x average exchange rateDividends x (EOY - Dividend exchange rate)Dividends x dividend exchange rateEOY net assets x EOY exchange rateEOY cumulative translation adjustmentTranslation adjustment for the year	Answer
	Answer
AnswerBOY cumulative translation adjustmentBOY net assets x (EOY - BOY exchange rates)BOY net assets x BOY exchange rateNet income x (EOY - Average exchange rate)Net income x average exchange rateDividends x (EOY - Dividend exchange rate)Dividends x dividend exchange rateEOY net assets x EOY exchange raetEOY cumulative translation adjustmentTranslation adjustment for the year	Answer
EOY Cumulative Translation Adjustment	Answer