Translate into dollars the balance sheet of Utah Leather Goods Spanish subsidiary. When Utah Leather Goods acquired

Question:

Translate into dollars the of Utah Leather Goods Spanish subsidiary. When Utah Leather Goods acquired the foreign subsidiary a euro was worth $1.01. The current is $1.38. During the period when retained earnings were earned, the average was $1.18 per euro.
Euros
Assets...................................... 800,000
Liabilities................................ 550,000
Stockholders equity:
Common stock.................... 70,000
Retained earnings................ 180,000
800,000
During the period covered by this situation, which currency was stronger, the dollar or the euro?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...