On January $2,2022,$ C Corporation, headquartered in the U$.$S$.,$ established a wholly$-$owned subsidiary in Mexico City. An initial investment of Ps$10,000,000$ was made on that date; the exchange rate was $$0\mathrm{.}05/$peso$.$ During $2022,$ the following cash transactions occurred at the Mexico City subsidiary. All amounts are in Mexican pesos $($Ps$).$The exchange rate was $$0\mathrm{.}06/$Ps in April when the office equipment and Ps$3,000,000$ of merchandise were purchased. Sales, other merchandise purchases, and operating expenses were assumed to have been made or incurred at an average exchange rate of $$0\mathrm{.}07/$Ps$.$ At year$-$end, the exchange rate was $$0\mathrm{.}08/$Ps and the ending inventory $($FIFO$)$ amounted to Ps$2,000,000,$ purchased when the exchange rate was $$0\mathrm{.}07/$Ps$.$ All depreciation and amortization is straight$-$line.$$Required$$a$.$ Prepare the preclosing trial balance for the Mexico City subsidiary as of December $31,2022,$ in U$.$S$.$ dollars, the subsidiary$$s functional currency.$$Use negative signs$$with your Cr $($credit balance$)$ answers, in the P Dr$($Cr$)$ and $ Dr$($Cr$)$ columns only.Enter answers using all zeros $($do not abbreviate answers to millions or thousands$).$December $31,2022$Remeasured Trial Balance$$Do not use negative signs$$with any of your answers below.Enter answers using all zeros $($do not abbreviate answers to millions or thousands$).$Instructions for Remeasurement Gain or Loss table:$$Use negative signs with answers to indicate a negative exposed position balance.Use negative signs with answers to indicate an amount that reduces the exposed position balance.Using the drop$-$down menu, select the appropriate answer to indicate a remeasurement gain or remeasurement loss.Do not use a negative sign$$with your remeasurement gain or remeasurement loss answer.$$Enter answers using all zeros $($do not abbreviate answers to millions or thousands$).$b$.$ Now assume the subsidiary$$s functional currency is the peso. Prepare the subsidiary$$s December $31,2022,$ preclosing trial balance, in U$.$S$.$ dollars.$$Use negative signs$$with your Cr $($credit balance$)$ answers, in the P Dr$($Cr$)$ and $ Dr$($Cr$)$ columns only.$$Enter answers using all zeros $($do not abbreviate answers to millions or thousands$).$December $31,2022$Translated Trial Balance$$Instructions for Translation Gain or Loss table:$$Use negative signs with answers to indicate a negative exposed position balance.Use negative signs with answers to indicate an amount that reduces the exposed position balance.Using the drop$-$down menu, select the appropriate answer to indicate a translation gain or translation loss.Do not use a negative sign$$with your translation gain or translation loss answer.Enter answers using all zeros $($do not abbreviate to millions or thousands$).$