The Following Information Pertains to Questions

question 34

Multiple Choice

The following information pertains to questions
ABC Inc has a single wholly-owned American subsidiary called US1 based in Los Angeles,California which was acquired January 1,2014.US1 submitted its financial statements for 2014 to ABC.Selected exchange rates in effect throughout 2014 are shown below: US1 Financial Results for 2014 were as follows: Balance Sheet For questions 17 through 22,inclusively,assume that US1 is considered to be a self-sustaining subsidiary.
-For the sake of simplicity,assume once again that US1's cost of sales was calculated to be $4,000,000 CDN.What is the amount (in Canadian dollars) of US1's retained earnings?

• A)$665,750
• B)$666,750
• C)$682,500
• D)$667,250

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Definitions:

Dislocation of Joints

An injury where two bones slip out of their normal position in a joint, causing pain and loss of movement.

Abuse

Misuse or treatment of something or someone in a harmful way.

Discoloration or Bruises

Changes in skin color, typically purplish or bluish, as a result of injury causing bleeding beneath the skin.

Back, Buttocks

Areas of the human body where the spine ends and the lower limbs begin, encompassing the region of the buttocks.