Question
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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