years ago after creating a successful brand associated with their expertise in jewellery design and manufacture in New Zealand. You have been asked to translate the results of Martin Mound Australia subsidiary in preparation to consolidate the results into the New Zealand parent company You have been provided with the Income Statement and Balance Sheet for Martin Mound Australia Limited in Australian dollars (A$) Sales 350,000 120,000 opening inventory 200,000 Purchases Cosin Inventory 1000001 Cost of sales Gross prof 130000 25.000 ing and administration expenses Depreciation 20 Total expenses Income tax 60000 Net profit after tax 320,000 Opening retained earnings Dividends 50000 Closing retained earnings years ago after creating a successful brand associated with their expertise in jewellery design and manufacture in New Zealand. You have been asked to translate the results of Martin Mound Australia subsidiary in preparation to consolidate the results into the New Zealand parent company You have been provided with the Income Statement and Balance Sheet for Martin Mound Australia Limited in Australian dollars (A$) Sales 350,000 120,000 opening inventory 200,000 Purchases Cosin Inventory 1000001 Cost of sales Gross prof 130000 25.000 ing and administration expenses Depreciation 20 Total expenses Income tax 60000 Net profit after tax 320,000 Opening retained earnings Dividends 50000 Closing retained earnings