Certain balance sheet accounts of a foreign subsidiary of Rose Company have been stated in U.S. dollars as follows:
| Stated at | |
| Current Rates | Historical Rates |
Accounts receivable, current | $200,000 | $220,000 |
Accounts receivable, long term | 100,000 | 110,000 |
Prepaid insurance | 50,000 | 55,000 |
Goodwill | 80,000 | 85,000 |
| $430,000 | $470,000 |
This subsidiary’s functional currency is the U.S. dollar. What total should Rose’s balance sheet include for the preceding items?
a. $430,000.
b. $435,000.
c. $440,000.
d. $450,000.
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