Multinational Operations - Temporal method - Retained earnings and net income

How do we get the retained earnings and net income figure under the temporal method. If both are plugs then how can we derive them given the data in question. Can we derive them using following equations:

Assets - Liabilities = Equity Opening R.E + NI - Dividends = Ending R.E

  1. You calculate ending retained earnings on the balance sheet so that the balance sheet balances; it’s a plug figure.
  2. You calculate net income on the income statement so that beginning retained earnings plus net income less dividends declared equals ending retained earnings; it’s a plug figure.
  3. You calculate foreign currency gain/loss on the income statement so that net income is the plug figure you got in step 2.