KINDLY HELP ME PLEASE

REQUIRED: Translate (TRANSLATION WORKING PAPER) the financial statements of Jack Company into the presentation currency.

Jack Company, a subsidiary of Jill Corporation, began operations at the beginning of 2018. The functional currency of Jack Company is the Italian Lira; the functional currency and reporting currency of Jill Corporation is the Philippine Peso. The statement of financial position of Jack Company on January 1, 2018, showed land for 40,000 liras; building for 95,000 liras; machinery for 25,000 liras; long-term debt for 50,000 liras; and ordinary share capital of 110,000 liras. A combined statement of income and retained earnings in lira for Jack Company for 2018 is as follows: Sales 300,000 Cost of goods sold 200,000 Operating expenses (including depr. Expense of 12,000) 55.000 Profit 45.000 Beginning retained earnings Dividends 12.500 Ending retained earnings 32.500 The statement of financial position for Jack Company in liras on December 31, 2018 is presented below. Assets Cash 9.500 Accounts receivable 25.000 Inventories 30,000 Land 40,000 Buildings, net 85.500 Machinery, net 22.500 Total assets 212.500Liabilities and Shareholders' Equity Accounts payable 15,000 Long-term debt 50.000 Common stock 115,000 Retained earnings 32.500 Translation adjustment Total liabilities and stockholders' equity 212.500 Additional ordinary shares (5,000 liras) was issued in June; dividends were declared and paid in November. The exchange rate for 2018 are as follows: Beginning of the year 0.50859 June 0.50732 November 0.51155 End of the year 0.51278 Weighted average 0.51168