Sunset Technological, Inc., a U.S. multinational producer of computer hardware, has subsidiaries located throughout the world. Sunset Technology purchased Werner Technology Company, a Swiss producer of computer hardware components, on January 1, 2010. Werner's financial statements are prepared and submitted in Swiss francs to Sunset's headquarters. Werner's adjusted trial balance at December 31, 2011, is presented below:
Werner Technology Company
Adjusted Trial Balance
December 31, 2011
(in Swiss Francs)

Relevant exchange rates for 2011 and 2010 are as follows:

The statement of retained earnings for the year ended December 31, 2010, is as follows (in U.S. dollars):

Required:
Prepare a translated statement of income and retained earnings, and a translated statement of financial position in U.S. dollars for Werner Technology for 2011.

Question

Sunset Technological, Inc., a U.S. multinational producer of computer hardware, has subsidiaries located throughout the world. Sunset Technology purchased Werner Technology Company, a Swiss producer of computer hardware components, on January 1, 2010. Werner's financial statements are prepared and submitted in Swiss francs to Sunset's headquarters. Werner's adjusted trial balance at December 31, 2011, is presented below:
Werner Technology Company
Adjusted Trial Balance
December 31, 2011
(in Swiss Francs)
  
Relevant exchange rates for 2011 and 2010 are as follows:
  
The statement of retained earnings for the year ended December 31, 2010, is as follows (in U.S. dollars):
  
Required:
Prepare a translated statement of income and retained earnings, and a translated statement of financial position in U.S. dollars for Werner Technology for 2011.

Quizplus · Accepted Answer

The Answer of Sunset Technological, Inc., a U.S. multinational producer of computer hardware, has subsidiaries located throughout the world. Sunset Technology purchased Werner Technology Company, a Swiss producer of computer hardware components, on January 1, 2010. Werner's financial statements are prepared and submitted in Swiss francs to Sunset's headquarters. Werner's adjusted trial balance at December 31, 2011, is presented below:
Werner Technology Company
Adjusted Trial Balance
December 31, 2011
(in Swiss Francs)
  
Relevant exchange rates for 2011 and 2010 are as follows:
  
The statement of retained earnings for the year ended December 31, 2010, is as follows (in U.S. dollars):
  
Required:
Prepare a translated statement of income and retained earnings, and a translated statement of financial position in U.S. dollars for Werner Technology for 2011.