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nect htm anslation of Foreign Currency Financia Help Seve & Sulvan's Island Company began operating a subsidiary in a foreign country on January 1,2017. by 84.000 pounds. The subsidiary began operating a subsidiary in a foreign country on January 1, 2017, by investing capital in the amount of ely borrowed 200,000 pounds on a five-year note with 10 percent interest payable annually immediat on January 1, 2018. The subsidiary then purchased for 284,000 pounds a building that had a 10-year expected life and no ,2017, the subsidiary rented the building for had been salvage value and is to be depreciated using the straight-line method. Also on January 1 three years to a group of local attorneys for received, and 14,400 pounds was in accounts receivable. On October 1, 3.600 pounds was paid for a repair made to the building The 7.200 pounds per month. By year-end, rent payments totaling 72.000 pounds subsidiary transferred a cash dividend of 5,100 pounds currency for the subsidiary is the pound Currency exchange r back to Sullivan's Island Company on December 31 2017. The functional ates for 1 pound follow anuary 1, 2017 2.101 Pound October 1, 2017 December 3, 2017 Average for 2017 2.15 2.1 2.141 Prepare an income statement, statement of retained earnings, and balance sheet for this subsidiary in pounds and then amounts into U.S. dollars translate these Complete this question by entering your answers in the tabs below Retained Balance Sheet IncomeRetained Statement Earnings of Retained earnings. (Amounts to be deducted should be indicated by a minus sign.)