Scientific Inc Scientific's Trial Balance at December 31,2020 Is Below

Scientific Inc. is a Singapore subsidiary of Preston Company, U.S. company. On January 1, 2020, Preston acquired the voting stock of Scientific for S$24,000. Scientific's book value was S$4,000 at the date of acquisition. The S$20,000 excess of acquisition cost over book value was allocated as follows:
•S$10,000 overvaluation of plant assets with a 10-year remaining life, straight-line
•S$9,000 to previously unrecorded identifiable intangibles with a 3-year life, straight-line
•S$21,000 to goodwill; there was no impairment in 2020
It is now December 31, 2020. Scientific's functional currency is the Singapore dollar.
Exchange rates are as follows:
$\begin{array} { l r } \text { January 1, 2020 } & \$ 0.80 / \mathrm { s \$ } \\ \text { Average for } 2020 & 0.75 / \mathrm { s \$ } \\ \text { December } 31,2020 & 0.70 / \mathrm { s } \$ \end{array}$

Scientific's trial balance at December 31,2020 is below.

$\begin{array}{|c|c|}\hline&\text { December } 31,2020 \\&\text { Dr (Cr) }\\\hline \text { Current assets } & \mathrm{S} \$ \mathrm{8} \quad 8,000 \\\hline \text { Plant \& equipment } & 55,000 \\\hline \text { Liabilities } & \{52,000\} \\\hline \text { Capital stock } & \{1,000\} \\\hline \text { Retained earning s, beg inning } & \{3,000\} \\\hline \text { Sales revenue } & \{70,000\} \\\hline \text { Cost of goodssold } & 51,000 \\\hline \text { Operating expenses } & \underline{12,000} \\\hline&S\$\quad0\\\hline\end{array}$ Required
a. Calculate Scientific's translation gain or loss for the year.
b. Translate Scientific's December 31, 2020 trial balance into U.S. dollars.
c. Preston uses the complete equity method to report its investment in Scientific. Calculate equity in net income of Scientific, and the December 31, 2020 balance for Investment in Scientific, reported on Preston's books.
d. Prepare eliminating entries (C), (E), (R) and (O) necessary to consolidate the December 31, 2020 trial balances of Preston and Scientific, in journal entry form.