USA Cumulative Translation Adjustment Calculation Help

[JDlugosch]

So, I'm converting my FS from a foreign currency using the Current Rate Method, and so far it's looking good. I even know the number that I should have for my CTA since I finished my FS. But just knowing what the number should be isn't enough, I need to actually calculate that number ($1,760,000).

I have a textbook with an example to sort of go off of, but its a different scenario in the book. In my scenario I have negative $612,500 CTA from the previous year (does this matter at all?). The way I'm approaching this is by calculating Net Assets/Liabilities at the beginning of the year, adding/subtracting any changes to that throughout the year, then taking that total and using my current exchange rate to find the translation adjustment.

I think my biggest problem is calculating my Net Assets/Liabilities at the beginning of the year and knowing what adjustments were made throughout the year. I had to do the same thing in the Temporal Method and am stuck there with me "Net Monetary Liabilities" Calculation...

I'm not sure how anyone can help me with this without me giving a ton of details on it, but I've been staring at this assignment for too many days now...

 

[JDlugosch]

EDIT: NEW EASIER QUESTION: How do I calculate the Net Assets at the start of the year. All I know is that the FS for year 2 is in the picture below, how much inventory I started with, and the "After" for building and equipment was purchased during the year. I know nothing else about any prior year accounts.

 

[sash]

I am doing a question on temporal method for translation and i want to know what to do if the balance sheet that i was given in the question has a beginning balance and an ending balance what do i do first?