7 ROBLEM #3 art 1. The following information was published in Abu Dhabi's "The National" newspaper on Monday, January 7, 2019 The year started with a currency flash crash as the US and Australian dollars, along with the Turkish lima, plunged against the Japanese yen to raise the curtain on what analysts expect to be a hugely volatile 12 months." NOTE: "plunged" means fell rapidly AND "volatile" means changing rapidly REQUIRED: Assume you are a Japanese company, and answer the questions below. 1) Is the information in the newspaper good news or bad news for your currency? 82) Explain your answer below. 9 00 01 3) Between Jan 1 and Jan 7, 2019, did the indirect exchange rate increase or decrease? 102 103 104 4) On January 1, you entered into an export transaction denominated in US dollars and you received payment on Feb 1. 105 If you created a weekly income statement for the period Jan 1 to Jan 7 and your only transaction during the week was the Jan 1 106 purchase would you record a foreign currency gain or loss on your income statement? 107 108 109 5) On January 1. you entered into an import transaction denominated in Japanese yen and you paid for the purchase on Feb 15. 110 If you created a weekly income statement for the period Jan 1 to Jan 7 and your only transaction during the week was the Jan 1 111 purchase would you record a foreign currency gain or loss on your income statement? 112 113 Ma 116 PROBLEM #4 117 Centennial Exchange, a US company, imports and exports grains. The company has a September 30 fiscal year-end. The cr Sheet1 New... 3000 114 115 * F2 80 F3 #4 S 14 4