I need help figuring out part b of this assignment. I'm not sure how you get the numbers.

On January 1, 20X5, Pirate Company acquired all of the outstanding stock of Ship Inc., a Norwegian company, at a cost of $151,200. Ship's net assets on the date ofacquisitlon were 700,000 kroner [NI-(r1. On January 1, 20x5, the book and fair values of the Norwegian subsidiary's identiable assets and liabilities approximated their fair values except for property, plant, and equipment and patents acquired. The fair value of Ships property, plant, and equipment exceeded its book value by $18,000. The remaining useful life of Ship's equipment at January 1, 20X5, was 10 years. The remainder of the differential was attributable to a patent having an estimated useful life of 5 years. Ship's trial balance on December 31, 20X5, in kroner, follows: Debits Credits Cash NKr 156,006 Accounts Receivable (net) 224,006 Inventory 222, 006 Property, Plant 8. Equipment 52?,006 Accumulated Depreciation NKr 169,066 Accounts Payable 161,066 Notes Payable 192,066 Common Stock 420,066 Retained Earnings 230,066 Sales 766,066 Cost of Goods Sold 423,006 Operating Expenses 111,006 Depreciation Expense 66,006 Dividends Paid 49.309 Total NKr1,923,006 NKr1,928,066 Additional Information: 1. Ship uses the FIFO method for its inventory. The beginning inventory was acquired on December 31, 20x4, and ending inventory was acquired on December 15, 20X5. Purchases of Nl-(r430,000 were made evenly throughout 20X5. 2. Ship acquired all of its property, plant, and equipment on July 1, 20x3, and uses straightline depreciation. 3. Ship's sales were made evenly throughout 20x5, and its operating expenses were incurred evenly throughout 20X5. 4. The dividends were declared and paid on July 1, 20x5. 5. Pirate's income from its own operations was $248,000 for 20X5, and its total stockholders' equity on January 1, 20KB, was $3,500,000. Pirate declared $110,000 of dividends during 20x5. 6. Exchange rates were as follows: NKr July 1, 20X3 1 0.15 December 30, 20X4 1 0. 18 January 1, 20X5 1 0. 18 July 1, 20X5 1 0.19 December 15, 20X5 1 = 0. 205 December 31, 20X5 1 = 0.21 Average for 20X5 1 = 0.20 Required: a. Prepare a schedule translating the trial balance from Norwegian kroner into U.S. dollars. Assume the krone is the functional currency. (If no adjustment is needed, select 'no entry necessary'.) PIRATE INC. Trial Balance Translation December 31, 20X5 Item Balance Dollars Cash 32,760 Accounts Receivable (net) 47,040 Inventory 57,120 Property, Plant and Equipment 131,670 Cost of Goods Sold 84,600 Operating Expenses 22,200 Depreciation Expense 13,200 Dividends Paid 9,310 Total $ 397,900 No entry necessary Total Debits 69 397,900 Accumulated Depreciation $ 35,490\fb. Assume that Pirate uses the fully adjusted equity method. Record all journal entries that relate to its investment in the Norwegian subsidiary during 20X5. Provide the necessary documentation and support for the amounts in the journal entries, including a schedule of the translation adjustment related to the differential. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet X No Date General Journal Debit Credit 1 January 01 Investment in Ship Company 151,200 Cash 151,200 2 July 01 Cash 9,310 Investment in Ship Company 9,310 3 December 31 Investment in Ship Company Income from subsidiary 4 December 31 Investment in Ship Company 21,680 Other Comprehensive Income - Translation adjustment 21,680 5 December 31 Income from subsidiary 3,764 Investment in Ship Company 3,764 6 December 31 Investment in Ship Company Other Comprehensive Income - Translation adjustment