Kingdom Enterprises is a Hong Kong-based exporter of consumer electronics and files all of its financial statements in Hong Kong dollars (HK$). The company's European sales director, Phillipp Bosse, has been criticized for his performance. He disagrees, arguing that sales in Europe have grown steadily in recent years. Who is correct?

Transcribed Image Text:

2008 2009 2010 Total net sales, HK$ Percent of total sales from Europe Total European sales, HKS Average exchange rate, HKS/E Total European sales, euros Growth rate of European sales 171,275 187,500 244,900 48% 44% 39% 11.5 117 10.3