On January 2,20X8,Polaris Company Acquired a 100% Interest in the Capital

question 58

Multiple Choice

On January 2,20X8,Polaris Company acquired a 100% interest in the capital stock of Ski Company for $3,100,000.Any excess cost over book value is attributable to a patent with a 10-year remaining life.At the date of acquisition,Ski's balance sheet contained the following information:
Ski's income statement for 20X8 is as follows:
The balance sheet of Ski at December 31,20X8,is as follows:
Ski declared and paid a dividend of 20,000 FCU on October 1,20X8.Spot rates at various dates for 20X8 follow:
Assume Ski's revenues,purchases,operating expenses,depreciation expense,and income taxes were incurred evenly throughout 20X8.
-Refer to the above information.Assuming the FCU of the country in which Ski Company is located is the functional currency,what are the translated amounts for the items below in U.S.dollars?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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