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11.5
    EXHIBIT 11.5- GANADO EUROPE'S TRANSLATION LOSS AFTER DEPRECIATION OF THE EURO- CURRENT RATE METHOD
    PARTCULARS    AMOUNT    DECEMBER 31,2015        JANUARY 2,2016
        (€)    EXCHANGE RATE US $/€    TRANSLATED AMOUNTS US $    EXCHANGE RATE US $/€    TRANSLATED AMOUNTS US $
    ASSETS
    Cash     1600000    1.2    1920000    1    1600000
    Accounts receivable    3200000    1.2    3840000    1    3200000
    Inventory    2400000    1.2    2880000    1    2400000
    Net plant and equipment    4800000    1.2    5760000    1    4800000
    Total    12000000        14400000        12000000
    LIABILITIES AND NET WORTH
    Accounts payable    800000    1.2    960000    1    800000
    Short term bank debt    1600000    1.2    1920000    1    1600000
    Long term debt    1600000    1.2    1920000    1    1600000
    Common stock    1800000    1.276    2296800    1.276    2296800
    Retained earnings    6200000    1.2    7440000    1.2    7440000
    Translation adjustment(CTA)            -136800        -1736800
    Total    12000000        14400000        12000000
    NOTE 1: Dollar retained earnings before depreciation are the retained earnings of all the prior periods which is translated using the exchange rates of each year.
    NOTE 2: Translated into dollars at the same rate as before depreciation of euros
11.6
    EXHIBIT 11.5- GANADO EUROPE'S TRANSLATION LOSS AFTER DEPRECIATION OF THE EURO- TEMPORAL METHOD
    PARTCULARS    AMOUNT    DECEMBER 31,2010        JANUARY 2,2011
        (€)    EXCHANGE RATE US $/€    TRANSLATED AMOUNTS US $    EXCHANGE RATE US $/€    TRANSLATED AMOUNTS US $
    ASSETS
    Cash     1600000    1.2    1920000    1    1600000
    Accounts receivable    3200000    1.2    3840000    1    3200000
    Inventory    2400000    1.218    2923200    1.218    2923200
    Net plant and equipment    4800000    1.276    6124800    1.276    6124800
    Total    12000000        14808000        13848000
    LIABILITIES AND NET WORTH
    Accounts payable    800000    1.2    960000    1    800000
    Short term bank debt    1600000    1.2    1920000    1    1600000
    Long term debt    1600000    1.2    1920000    1    1600000
    Common stock    1800000    1.276    2296800    1.276    2296800
    Retained earnings    6200000    1.2437    7710940    1.2437    7710940
    Translation adjustment(CTA)            260        -159740
    Total    12000000        14808000        13848000
    NOTE 1: Dollar retained earnings before depreciation are the retained earnings of all...