28. Ginvold Co. began operating a subsidiary in a foreign country on January 1, 2018 by acquiring all of the common stock for 50,000 Stickles, the local currency. This subsidiary immediately borrowed 120,000 on a five-year note with ten percent interest payable annually beginning on January 1, 2019, A building was then purchased for 170,000 on January 1 This property had a ten-year anticipated life and no using the straight-line method. The building was immediately rented for three years to a group of local doctors for $6,000 per month. By year-end received. On October 1,55,000 were paid for a repair made on that date and it was the only transaction of this kind for the year. A cash dividend of$6,000 was transferred back to Ginvold on December 31, 2018. The functional currency for the subsidiary was the Stickle (S). Currency exchange rates were as follows: , 2018. salvage value and was to be depreciated , payments totaling 60,000 had been January 1, 2018 October 1, 2018 Average for 2018 December 31, 2018 51 = $2.40 51 = $2.22 1 = $2.28 1=$2.16 Prepare an income statement for this subsidiary in stickles and then translate these amounts into U.S. dollars