Stripe Corporation,a British Subsidiary of Polka Corporation (A U $\text { In Pounds }$

Stripe Corporation,a British subsidiary of Polka Corporation (a U.S.company)was formed by Polka on January 1,2014 in exchange for all of the subsidiary's common stock.Stripe has now ended its second year of operations on December 31,2015.Relevant exchange rates are:
January 01,2014 = 1£ = $1.60
April 01,2014 = 1£ = $1.62
December 31,2015 = 1£ = $1.57
2015 average rate = 1£ = $1.56
Stripe's adjusted trial balance is presented below for the calendar year 2015.
$\text { In Pounds }$ Debits:
$\begin{array}{ll}\text { Cash } & £ 172,000 \\\text { Accounts receivable } & 308,000 \\\text { Notes receivable } & 98,000 \\\text { Building } & 400,000 \\\text { Land } & 100,000 \\\text { Depreciation expense } & 10,000 \\\text { Other expenses } & 117,000 \\\text { Salary expense } & \underline{376,000} \\\text { Total debits } & \underline{£ 1,581,000}\end{array}$ Credits
$\begin{array}{ll}\text { Accumulated depreciation } & £ 17,500 \\\text { Accounts payable } & 200,000 \\\text { Common stock } & 550,000 \\\text { Retained earnings } & 213,500 \\\text { Sales revenue } & \underline{600,000} \\\text { Total credits } & £ 1,581,000\end{array}$ Required:
Prepare Stripe's:
1.Remeasurement working papers;
2.Remeasured income statement; and
3.Remeasured balance sheet.