Translation of Income Statement December 31, 2019 December 31, 2020 Euro US$ US$ Sales 30,000 Cost of goods sold 29,750 30.000 30,000 Operating profits 250 30,000 30,000 Translation of Balance Sheet December 31, 2019 December 31, 2020 Assets Euro US$ US$ Us$ Cash 40 Inventory 300 Plant and equipment (net) 160 30,000 30,000 Total 500 30.000 30,000 Liabilities and stockholders' equity Debt 240 Paid-in capital 200 Retained earnings 60 30,000 30,000 Total 500 30,000 30,000
Translation of Income Statement December 31, 2019 December 31, 2020 Euro US$ US$ Sales 30,000 Cost of goods sold 29,750 30.000 30,000 Operating profits 250 30,000 30,000 Translation of Balance Sheet December 31, 2019 December 31, 2020 Assets Euro US$ US$ Us$ Cash 40 Inventory 300 Plant and equipment (net) 160 30,000 30,000 Total 500 30.000 30,000 Liabilities and stockholders' equity Debt 240 Paid-in capital 200 Retained earnings 60 30,000 30,000 Total 500 30,000 30,000
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.13P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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Translation of financial statements A U.S.-based MNC has a subsidiary in France (local currency, euro, €). The
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