do this calculation and Prepare a schedule translating the December $31,20$X$1,$ trial balance from Swiss francs to dollars. please

On January $1,20$X$1,$ Popular Creek Corporation organized RoadTime Company as a subsidiary in

Switzerland with an initial investment cost of Swiss francs $($SFr$)60,000.$ RoadTime$$s December $31,$

$20$X$1,$ trial balance in SFr is as follows:

$$

Debit

Credit

cashs

SFr $7,000$

$$

accounts receivable $($net$)$

$20,000$

$$

$$receivable from Popular Creek

$5,000$

$$

inventory

$25,000$

$$

plant & Equipment

$100,000$

$$

accumulated depreciation

$$

SFr $10,000$

accounts payable

$$

$12,000$

Bonds payable

$$

$50,000$

common stock

$$

$60,000$

sales

$$

$150,000$

cost of goods sold

$70,000$

$$

depreciation expense

$10,000$

$$

operating expense

$30,000$

$$

dividends paid

$15,000$

$$

Total

SFr $282,000$

SFr $282,000$

$$

$$

Additional Information

i$.$ The receivable from Popular Creek is denominated in Swiss francs. Popular Creek$$s

books show a $$4,000$ payable to RoadTime.

ii$.$ Purchases of inventory goods are made evenly during the year. Items in the ending

inventory were purchased November $1.$

iii. Equipment is depreciated by the straight$-$line method with a $10-$year life and no

residual value. A full year$$s depreciation is taken in the year of acquisition. The

equipment was acquired on March $1.$

iv$.$ The dividends were declared and paid on November $1.$

v$.$ The Swiss franc is the functional currency.

vi$.$ Exchange rates were as follows:

$$

$$

$$

SFr $$$

Jan$-01$

$1=0\mathrm{.}73$

Mar$-01$

$1=0\mathrm{.}74$

Nov$-01$

$1=0\mathrm{.}77$

Dec$-31$

$1=0\mathrm{.}80$

$20$x$1$ average

$1=0\mathrm{.}75$

$$

$$

$$

Required:

Prepare a schedule translating the December $31,20$X$1,$ trial balance from Swiss francs to dollars.