This problem is adapted from our Chapter 10 exercise on the temporal method. Specifically, I have made a change to the initial exchange rate on the formation date of the subsidiary (from 0.50 to 0.52). Please update the worksheet accordingly following this change, ensuring to answer the specified blanks with is clear labels. hibited. Posting this material on any commerical websites is a violation of my copyright. iolations s reported L@oldwestbury.edu. Unauthorized sharing or 1/1/2010: Subsidiary was formed; Ex. Rate was 0.50- 0.52, 1/1/2015: Exchange rate was 0.60 osting this material on any commerical suspected violations should be reported to 4/1/2015: Property was purchased; Ex. Rate was 0.62 4/15/2015: All the long-term debt were incurred; Ex.. Rate was 0.63. ion of this material is strictly 10/1/2015: Dividends were declared; Ex. Rate was 0.67 is a violation of my copyright. Any 12/31/2015: Exchange rate was 0.68 @oldwestbury.edu. Unauthorized sharing or Avg. Rate for 2015: 0.64 strictly prohibited. Posting this material on any commerical Assumptions: olation of my copyright. Any suspected violations should be reported to Revenue and cost of goods sold occurred uniformly throughout the year. of this material is strictly Common Stock and APIC has remained constant since the establishment on 1/1/2010_.y copyright. Any Patent is fully amortized, thus not listed in the balance sheet. The patent was secured on 1/1/2012. when the Exchange Rate was 0.59. aterial is strictly prohibited. Posting this material on any commerical Temporal Method on any commerical websites is a violation of my copyright. A Updated ected violations should be reported to LIL@oldwestbury.edu. Unauthorized sharing or Exchange ation of this Updated strictly prohibited. Posting this ma CHF on any Exchange Ratevel Rates is a vioUSD of my USD Sales uspected violations should be3,000,000 0.64 Andwestbury.edu. Unal,920,009d sharing or Cost of Goods Sold this material is (2,000,000) 0.64 - A Posting this materi (1,280,000) commerical Gross Profit a violation of my co1,000,000 An/a suspected violations shou640,000reported to Depreciation Expense .Unauthorize (35,000) 0.62 H semination of this (21,700) is strictly Expense this material on (25 000) 0 5galwebsites is a violation ofa good pyright. AnyAmortization Expense Tor (25,000) 0.58 H gosites (14,500) Other Expenses lations should be re (110,000) 0.64 A dwestbury.edu. Unaut (70,400) sharing or f this material is Posting this material ommerical Income Before Taxes ation of my cop 830,000 n/a spected violations show 533,400 eported to Income Taxes bury.edu. Unauthorize(249,000) 0.64 A ssemination of this (159,360) Currency Exchange Gain/Loss terial 0 n/a (plug-in)'s is a violation 10,340 (9 ) ? Net Income violations should be rep581,000 on/a @(below) tbury.edu. Unaut 384,380 (8) ? issemination of this material is strictly prohibited. Posting this material on any commerical websites is a violation of my copyright. Any suspected violations should be reported to Retained Earnings, 1/1 Unauthorized100,000 0.64 (given) nation of this 64.000 is strictly Net Income Posting this material on a 581,000 n/a (plug-in) es is a violation of 384,380 (7 ) ? Dividends violations should be rep (150,000) 0.67 H westbury.edu. Unau (100,500) ion of this material is sting this mater Retained Earnings, 12/31 on of my cop 531,000 n/a (below) violations shou 347,880 (6) ? Assets ted. Posting this material oCHFy comn Exchange Ratees is a violationUSDmy copyright. Any Cash cted violations should be rep121,000 0.68 Cawestbury.edu. Unauth 82,280 sharing or Accounts Receivable his material is str 100,000 0 0.68 C Posting this material o 68,000 commerical Inventory (evenly acquired this my copy suspected violations should reported to year) Idwestbury.edu. Unauthorized 450000 0.64 A ssemination of this 288,000 is strictly Property and Equipment is material on 1,000,000 0.62 H debsites is a violation 620,000 byright. Any Accumulated Depreciation ould be _ (120.000) 0.62 Hadwestbury.edu. Un(74.400)_sharing or Total Assetson of this material is s1,551,000on/ated. Posting this material 983,880 commerical websites is a violation of my copyright. Any suspected violations should be reported to Liabilities and Equity . Unauthorized sharing or dissemination of this material is strictly Accounts Payable g this material on a500,000 0.68 alc ebsites is a violation . 340,000 pyright. Any Long-term Dent ations should be rep200 090 0 68@ @dwestbury.edu. Unaut 136 000 sharing orLiabilities and Equity Accounts Payable 500,000 068 C Long-term Debt 200,000 068 C Common Stock 100,000 030 H m Additional PIC 220,000 6306 H m Retained Earnings 12/31 531,000 n/a plug-in OCI-Cumulative Trans. Adj. 0 na Total Liabilities and Equity 1,551,000 n/a (=Total Assets) Blanks (5) and (6) should have the same number. How much is it? Numeric Response 340,000 136,000 50.000 | (2)52,000 16000 | (4)114,400 347880 [ (5)? 0 983,880