On January 1,Year 1, Parker, Inc., a U.-based firm listed on the NY Stock Exchange, purchased 100 percent of Suffolk PLC, an entity operating in the...

Year 2

1.64

1.65

1.66

1.68

December 31, Year 2, financial statements (before consolidation with Suffolk) follow. Dividend income is the U.S. dollar amount of dividends received from Suffolk translated at the $1.65/£ exchange rate at January 30, 2016. The amounts listed for dividend income and all affected accounts (i.e., net income, December 31, retained earnings, and cash) reflect the $1.65/£ exchange rate at January 30, Year 2. Credit balances are in parentheses.