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

Instructions for both parts a. and b. below:

Use a negative sign with your answers to indicate a reduction (expenses, cash outflows, etc.).

Round answers to the nearest whole number.

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 $2,214,450).

b. Coendule the ending Curnulative Translasioet Adjusurent direcily, assurring a DOY balance of \$1,916,500