An adult patient started on bland aerosol therapy after extu…

Questions

An аdult pаtient stаrted оn bland aerоsоl therapy after extubation begins to develop stridor. The most appropriate action is which of the following?

Use the fоllоwing infоrmаtion to аnswer the next FIVE questions. Reаd the required first before reading the following information. On January 1, 2025, Pickle Enterprises of Edmonton paid $12,000,000 for 100% of the outstanding common shares of Sauce Corp of the United States. Pickle uses the CURRENT RATE METHOD, where the Subsidiary is self-sustaining and the functional currency is that of the subsidiary. Sauces’ December 31st balance sheets for 2024 and 2025 and the statement of income and retained earnings for 2025 follow:                                                                            Sauce Corp Balance Sheet As at December 31    2025 US$ 2024 US$ Current Monetary Assets $8,000,000 $7,500,000 Inventory   2,000,000   3,000,000 Plant and Equipment (Net)   1,500,000   1,800,000 Total Assets $11,500,000 $12,300,000       Current Liabilities $1,100,000 $2,300,000 8% Bonds Payable (due Dec 31, 2031 )   5,000,000   5,000,000 Common Shares   4,000,000   4,000,000 Retained Earnings   1,400,000   1,000,000 Total Liabilities and Equity $11,500,000 $12,300,000 Sauce Corp Statement of Income and Retained Earnings For the year ended December 31, 2025   US$ Sales $5,200,000 Cost of goods sold (includes purchases $3,000,000)    (4,000,000) Gross profit  $1,200,000 Depreciation Expense      300,000 Other Expenses      400,000     Net Income     $500,000 Beginning retained earnings, January 1, 2025   1,000,000 Dividends (paid September 30, 2025)    (100,000) Ending retained earnings, December 31, 2025  $1,400,000 Additional Information: 2025 Sales and Other Expenses occurred evenly throughout the year. The inventories on hand at the end of 2024 were purchased in early December 2024 when the exchange rate was US$1 = CDN$1.1875. There was one inventory purchase in October of the current year when the exchange rate of US$1 = CDN$1.195. Relish Corp practices FIFO Method to account for its inventory. The equipment on hand at December 31, 2024 was originally acquired when the exchange rate was US$1 = CDN$1.192.  No equipment purchases occurred in 2025. Exchange Rates: December 31, 2024 and January 1, 2025 US $1 = CDN $1.1850 September 30, 2025 US $1 = CDN $1.1975 December 31, 2025 US $1 = CDN $1.20 Average for 2025 US $1 = CDN $1.19 Required: Using the Current Rate Method where the functional currency is that of the subsidiary and the subsidiary is considered self-sustaining, answer the following questions by selecting your choice found below. i) Determine the Beginning Net Assets On January 1, 2025. (1 mark) US   $5,200,000 CAD $  237,000 US   $3,200,000 CAD $5,925,000 ii) Income Statement: Using the current rate method, which statement is TRUE regarding translating (i.e. into CDN$) net income? (1 mark) The Periodic Method is used to translate Cost of Goods Sold. Sales of US$5,200,000 is translated at US $1 = CDN $1.1850. Gross Profit of US$1,200,000 translates to CDN$1,428,000. Depreciation Expense of US$300,000 translates to CDN$355,500. iii) Closing Rate: Which accounts are translated (i.e. into CDN$) at the Closing Rate? (1 mark) Dividends and Retained Earnings Common Shares and Accumulated Other Comprehensive Income Beginning Inventory and Purchases Current Monetary Assets and Current Liabilities iv) Dividends Paid: The US $100,000 dividends translates into (1 mark): CDN $119,750 CDN $119,000 CDN $118,500 CDN $120,000 v) SCENERIO (WHAT IF?): Under the Current Rate Method, an exchange gain or loss is calculated. Assume the Calculated Ending Net Assets (i.e. Beginning Balance +/- Changes to Net Assets) on December 31, 2025 was CDN$6,400,250. Using the given exchange rates on December 31, 2025, determine the exchange gain or loss. (1 mark) OCI – Exchange gain $79,750 OCI – Exchange loss ($79,750) Exchange gain $79,750 Exchange loss ($79,750)