Stilton Company (a U.S.-based company) has a subsidiary in Canada that began operations...
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Stilton Company a USbased company has a subsidiary in Canada that began operations at the start of with assets of Canadian dollars CAD and liabilities of CAD During this initial year of operation, the subsidiary reported a profit of CAD It distributed two dividends, each for CAD with one dividend declared on March and the other on October Applicable US dollar $ exchange rates for Canadian dollar follow:
tableJanuary start of business$
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