Problems 8 and 9 are based on the following information. Newberry, Ine, whose reporting currency is the U.S. dollar, has a subeidiary in Argentinu, whove functional currency also is the U.S. dollar, The subsidiary acquires inventory on credit on November 1 , 2020, for 100,000 pesos that is sold on January 17,2021 , for 130,000 petos. The subsidiary pays for the inventory on January 31, 2021, Currency exchange nates are as follows: 8. What amount does Newberry's consolidated balance sheet report for this inventory at December 31, 2020 ? a. $16,000 b. $17,000 c. $18,000 d. $19,000 9. What amourit does Newberry's consolidated income statement report for cost of goods sold for the year endin 1 December 31,2021? a. $16,000 b. $17,000 c. $18,000 d. $19,000 Problems 10 and 11 are based on the following information. A Clarke Corporation subsidiary buys marketable equity securities and inventory on April 1. 2020, for 100,000 won each. It pays for both items on June 1, 2020, and they are still on hand at year-end. Inventory is carried at cost under the lower-of-cost-or-net realizable rule. Currency exchange rates in 2020 follow: 10. Assume that the won is the subsidiary's functional currency. What balances does a consolidated balance sheet report as of December 31, 2020? a. Marketable equity securities =$16,000 and Inventory =$16,000. b. Marketable equity securities =$17,000 and Inventory =$17,000. c. Marketable equity securities =$19,000 and Inventory =$16,000. d. Marketable equity securities =$19,000 and Inventory =$19,000. 11. Assume that the U.S, dollar is the subsidiary's functional currency. What balances does a consolidated balance sheet report as of December 31,2020 ? a. Marketable equity securities =$16,000 and Inventory =$16,000 b. Marketable equity securities =$17,000 and Inventory =$17,000 c. Marketable equity securities =$19,000 and Inventory =$16,000 d. Marketable equity securities =$19,000 and Inventory =$19,000