You are a senior accountant for Acme Corporation in the United States. At the start of the fiscal year, your company (parent) invested in a new company (subsidiary), called Coyote, and obtained 100% control of the foreign-based company. Goodwill was recorded as part of the transaction. The subsidiary uses the euro as 1. Explain concepts related to foreign currency, exchange rates, and exchange risk. its functional currency, but the financial information has already been converted into the US dollar. Acme Corporation has a controlling financial interest. The subsidiary continued to operate on its own, as it bought and sold equipment, merchandise, and land during the year. You are consolidating the financial statements of both companies and filling out the consolidation workbook