Under the current rate method, how are assets and liabilities that are stated in a foreign currency translated? Under the current rate method, describe how the various balance sheet accounts are...

Under the current rate method, how are assets and liabilities that are stated in a foreign currency translated? Under the current rate method, describe how the various balance sheet accounts are translated (including the equity accounts) and how this translation affects the computation of various ratios (such as debt to equity or the current ratio). In particular, discuss whether or not the ratios will change when computed in local currencies and compared to their calculations (after translation) using the parent’s currency.