With the given information, please translate the scenario using the temporal method of translation:

For the scenario-- please include the Calculation of Remeasurement Gain/Loss, and the accompanying inventory schedules and depreciation schedules.

The financial statements of UDC as of December 31, Year 3 are as follows:

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Special note--for this question--Assume the U.S. Dollar is the functional currency of UDC (which is not UDCs reporting currency). The December 31, Year 2, retained earnings that appeared in Utes re-measured financial statements were $2,802,020.

On January 1, Year 1 Brutes acquired a 100% interest in UDC. You issued equity (common stock and APIC) on January 1, Year 1.

The January 1, Year 3, beginning inventory of 5,478,125 was purchased evenly throughout the last 6 months of Year 2. Purchases of inventory during Year 3 were acquired uniformly throughout year 3. The December 31, Year 3, ending inventory was acquired evenly throughout the last 6 months of Year 3. Inventory is held at cost.

All fixed assets were purchased based on the following schedules: o A basket purchase of 27,000,000. This purchase was a building (#1) for 23,000,000 and Land for 4,000,000 on January 1, Year 1. o You built a second building for the price of 3,000,000 on February 1, Year 2. This is located on the same parcel of land as building #1. o basket purchase of 6,467,000. This purchase was a piece of land for 500,000 and a building (#3) for 5,967,000 on February 14, Year 3 o an equipment purchase of 10,000,000 on January 1, Year 1 o an equipment purchase of 6,042,000 on March 1, Year 3

The Brutes have a corporate policy of depreciating Equipment on a straight-line basis over 7 years. Buildings are depreciated on a straight-line basis over 20 years. The Brutes corporate policy of depreciation also states that a full years depreciation is taken in the year of acquisition.

Dividends were declared and paid on December 31, Year 3.

f Salee 33.000,000 Cost of goods sold -21,700,000 Depreciation expenae-equipment -2.291.714 Duprecialion expese-buildirg 1,598,350 -1,3, Research and rdeveopment expense Other exponcoe (including taxee) -1,150,000 Net income 4,529.936 Plus: Retained earnings, 1/1/Y3 G,520,402 -1.000,000 10,056.418 Le33: Dvidends paid Retained earnings, 12/31/Y3 Cash 9,723,375 Auuounts recuivablu (u) 3,500,000 Inventory 10,6,2 Equiprment 16,042,000 Iasa: ancumunted depracintinn 5,148,A57 Buikdinn 31,987,000 Leas: accumulated depreciation 4.048,350 Lard 4,500,000 Total asseta 67.491.418 Accounta payable 5,435,000 Long-term Note Payable 21,500,000 Common ctock 500,000 30,000,000 Additional paid-in capital Retained earninge 10,056.118 Cumulative I rans lation Adjustment. Total 67.191.118 Exchange Rates for year 1 January 1, Year 1 0.36 Weighted average for year 1 0.3755 Average for Q4 0.39 0.41 12/31/Y1 Exchange Rates for Year 2 January 1, Year 2 February 1, Year 2 0.41 0.44 Weighted average for Year 2 0.47 age for last 6 months of year 2 0.4756 12/31/y2 0.49 Exchange Rates for Year 3 January 1, Year 3 0.49 February 14, Year 3 0.48 March 1, Year 3 0.47 Weighted average for Year 3 0.472 age for last 6 months of year 3 0.46 12/31/y3 0.45 f Salee 33.000,000 Cost of goods sold -21,700,000 Depreciation expenae-equipment -2.291.714 Duprecialion expese-buildirg 1,598,350 -1,3, Research and rdeveopment expense Other exponcoe (including taxee) -1,150,000 Net income 4,529.936 Plus: Retained earnings, 1/1/Y3 G,520,402 -1.000,000 10,056.418 Le33: Dvidends paid Retained earnings, 12/31/Y3 Cash 9,723,375 Auuounts recuivablu (u) 3,500,000 Inventory 10,6,2 Equiprment 16,042,000 Iasa: ancumunted depracintinn 5,148,A57 Buikdinn 31,987,000 Leas: accumulated depreciation 4.048,350 Lard 4,500,000 Total asseta 67.491.418 Accounta payable 5,435,000 Long-term Note Payable 21,500,000 Common ctock 500,000 30,000,000 Additional paid-in capital Retained earninge 10,056.118 Cumulative I rans lation Adjustment. Total 67.191.118 Exchange Rates for year 1 January 1, Year 1 0.36 Weighted average for year 1 0.3755 Average for Q4 0.39 0.41 12/31/Y1 Exchange Rates for Year 2 January 1, Year 2 February 1, Year 2 0.41 0.44 Weighted average for Year 2 0.47 age for last 6 months of year 2 0.4756 12/31/y2 0.49 Exchange Rates for Year 3 January 1, Year 3 0.49 February 14, Year 3 0.48 March 1, Year 3 0.47 Weighted average for Year 3 0.472 age for last 6 months of year 3 0.46 12/31/y3 0.45