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a. What was Blundell Biotech's consolidated profits in U.S. dollars in 2013 and 2014? Consolidated profits or earnings is found by consolidating the converted profits

a. What was Blundell Biotech's consolidated profits in U.S. dollars in 2013 and 2014?

Consolidated profits or earnings is found by consolidating the converted profits in each foreign currency to U.S. dollars for that period. (This is simplified. Actual accounting practices would require the additional netting of any intra-company transactions resulting to eliminate any double-counting of profits.)

Calculate the consolidated profits in U.S. dollars in 2013 and 2014 below:(Round to two decimal places)

Japanese

Subsidiary

British

Subsidiary

European

Subsidiary

Chinese

Subsidiary

Russian

Subsidiary

United States

Subsidiary

Net Income

JPY

GBP

EUR

CNY

RUB

USD

2013

1,503

96.36

208.73

171.89

131.29

365.62

2014

1,464

105.71

215.15

190.42

118.05

385.27

(b)

Exchange Rate

JPY = 1 USD

USD = 1 GBP

USD = 1 EUR

CNY = 1 USD

RUB = 1 USD

USD

2013

97.55

1.503

1.2856

6.1621

31.85

1

2014

105.8

1.5561

1.3825

6.2347

38.65

1

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