A. Global Precision Instruments has a subsidiary in a small South American country. Its balance sheet (below) nec to be translated using the local currency as the functional currency. At the beginning of the year, the currency the subsidiary's country had an exchange ratio of 10-to-1 against the dollar. At the end of the year, it had appreciated to 8-to-1 against the dollar. Translate the balance sheet. (Assume that net income is $15 during the year.) [10 marks In Dollars 12/31/2019 1281.2020 Cash Receivables Inventory Current Assets Net Fixed Assets Total Assets In Domestic Currency 12/31 2019 12/31/2020 500 550 400 450 700 800 1,600 1,800 700 700 2.300 2.500 Current Liabs. Long-term Debt Common Stock Retained Earnings Acc. Translation Adjustment Total 300 700 950) 350 400) 750 950 100 23 2,500 B. How the balance of payments pendes information commune exchange rate determination Discuss mark mark REDMI NOTE 8 PRO uble entry emot balance of met Die AI QUAD CAMERA A. Global Precision Instruments has a subsidiary in a small South American country. Its balance sheet (below) nec to be translated using the local currency as the functional currency. At the beginning of the year, the currency the subsidiary's country had an exchange ratio of 10-to-1 against the dollar. At the end of the year, it had appreciated to 8-to-1 against the dollar. Translate the balance sheet. (Assume that net income is $15 during the year.) [10 marks In Dollars 12/31/2019 1281.2020 Cash Receivables Inventory Current Assets Net Fixed Assets Total Assets In Domestic Currency 12/31 2019 12/31/2020 500 550 400 450 700 800 1,600 1,800 700 700 2.300 2.500 Current Liabs. Long-term Debt Common Stock Retained Earnings Acc. Translation Adjustment Total 300 700 950) 350 400) 750 950 100 23 2,500 B. How the balance of payments pendes information commune exchange rate determination Discuss mark mark REDMI NOTE 8 PRO uble entry emot balance of met Die AI QUAD CAMERA