Resource:ABC Financial Data Excel® spreadsheet, ABC Supplemental Data

Resource:ABC Financial Data Excel® spreadsheet, ABC Supplemental Data, and the values from the Week 2 Individual AssignmentPreparea statement of Retained Earnings and Comprehensive Income using the values from Week 2.Apply error corrections to the retained earnings statement.Calculate foreign currency translation.Apply hedging or derivative transaction into statement.Preparea Statement of Owner’s Equity, referring to the balance sheet results as well as the statements prepared for the Week 2 Individual Assignment.Submitthe Statement of Retained Earnings in a Microsoft® Excel® spreadsheet and the Statement of Owner’s Equity and Comprehensive Income.Cash and Cash Equivalents 4,960.00Receivables, net 1,398.00InventoryOther Current Assets 895.00Property and Equipment, at cost 36,033.00Accumulated Depreciation and Amortization (15,684.00)Goodwill 1,289.00Deferred Tax Asset 88.00Accounts Payable 5,797.00Accrued Salaries and Related Expenses 1,428.00Sales Taxes Payable 396.00Deferred Revenue 1,337.00Income Taxes Payable 12.00Current Installments of Long-Term Debt 33.00Other Accrued Expenses 1,746.00Long-Term Debt, excluding current installments 14,691.00Other Long-Term Liabilities 2,042.00Deferred Tax LiabilityPaid-In Capital 8,402.00Retained Earnings 23,180.00Accumulated Other Comprehensive Income 46.00Treasury Stock (19,194.00)Common stock 88.00Net Sales 78,812.00Cost of SalesSelling, General and Administrative 16,597.00Depreciation and Amortization 1,595.00Interest and Investment Income (12.00)Interest Expense 711.00Provision for Income Taxes (3,082.00)Foreign Currency Translation AdjustmentsCash Flow Hedges, net of tax (12.00)Other Comprehensive Income (10.00)Dividends (2,243.00)Tax rate40%Shares Issued Under Employee Stock Plans 103.00Tax Effect of Stock-Based Compensation 123.00Restricted Stock 228.00Repurchases of Common Stock (8,500.00)Additional Info:Cash Sales 4,523.00Collections on Receivables 6,739.00Purchases (1,332.00)Wages (987.00)Payments to Suppliers (1,028.00)Tax Payments (275.00)Interest payments (12.00)Capital Expenditures (1,389.00)Payments for Businesses Acquired (206.00)Proceeds from Sales of Property and Equipment 88.00Proceeds from Long-Term Borrowings 5,222.00Repayments of Long-Term Debt (1,289.00)Repurchases of Common Stock (8,546.00)Proceeds from Sales of Common Stock 241.00Cash Dividends Paid to Stockholders (2,243.00)Other Financing Activities (37.00)ABC Supplemental DataNote the following supplemental data, and instruction to determine exact exchange rates:ABC Company acquired a Canadian subsidiary whose only asset was land.ABC Company purchased the subsidiary on 12/31/10 for CA $5,250 and retains 100% interest in the subsidiary.