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A US company has expenses of 100 Euros and revenues of $150 (but no revenues in Euros), in 2021 and in 2022. In 2021, one
A US company has expenses of 100 Euros and revenues of $150 (but no revenues in Euros), in 2021 and in 2022. In 2021, one Euro was worth $1.20 and in 2022 it was worth $1.00. What was the percentage increase or decrease, in net income, solely because of the exchange rate change, from 2021 to 2022? State the percentage change and whether it was an increase or a decrease.
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