Data table (a) Net Income 2013 2014 Japanese Subsidiary JPY 1.509 1.454 British Subsidiary GBP 96.65 106.85 European Subsidiary EUR 203.82 206.86 Chinese Subsidiary CNY 169.39 193.53 Russian Subsidiary RUB 125.92 118.01 (b) Exchange Rate 2013 2014 JPY = 1 USD 97.53 105.83 USD = 1 GBP 1.5296 1.6543 USD = 1 EUR 1.2461 1.302 CNY = 1 USD 6.1817 6.1753 RUB = 1 USD 31.79 38.65 Chinese Subsidiary CNY Russian Subsidiary RUB United States Subsidiary USD 169.39 193.53 125.92 118.01 366.27 380.55 CNY = 1 USD RUB = 1 USD = USD 1 6.1817 6.1753 31.79 38.65 1 Blundell Biotech. Blundell Biotech is a U.S.-based biotechnology company with operations and earnings in a number of foreign countries. The company's profits by subsidiary, in local currency (in millions), are shown in the table for 2013 and 2014 a. What was Blundell Biotech's consolidated profits in U.S. dollars in 2013 and 2014? b. If the same exchange rates were used for both years, what was the change in corporate earnings on a "constant currency" basis? c. Using the results of the constant currency analysis in part (b), is it possible to separate Blundell's growth in earnings between local currency earnings and foreign exchange rate impacts on a consolidated basis? a. What was Blundell Biotech's consolidated profits in US 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) British Japanese European Net Income Chinese Russian U.S. Consolidated Subsidiary (USD) Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Earnings (2013) (2014) Change (%) Blundell Biotech. Blundell Biotech is a U.S.-based biotechnology company with operations and earnings in a number of foreign countries. The company's profits by subsidiary, in local currency (in millions), are shown in the table for 2013 and 2014. a. What was Blundell Biotech's consolidated profits in U.S. dollars in 2013 and 2014? b. If the same exchange rates were used for both years, what was the change in corporate earnings on a "constant currency" basis? C. Using the results of the constant currency analysis in part (b), is it possible to separate Blundell's growth in earnings between local currency earnings and foreign exchange rate impacts on a consolidated basis? b. If the same exchange rates were used for both years, what was the change in corporate earnings on a "constant currency" basis? Calculate the earnings from individual subsidiaries and consolidation below: (Round to two decimal places.) Net Income Japanese British European Chinese Russian U.S. Consolidated Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary (USD) (2014) Change (%) (Select the best choice below) O A. On a constant currency basis, all subsidiaries showed growth in profits except for the European and Russian subsidiaries. Fortunately for Blundell, neither of those subsidiaries is a major contributor to total profits B. On a constant currency basis, all subsidiaries showed growth in profits except for the Japanese and Russian subsidiaries. Fortunately for Blundell, neither of those subsidiaries is a major contributor to total profits. OC. On a constant currency basis, all subsidiaries showed growth in profits except for the Chinese and Russian subsidiaries. Fortunately for Blundell, neither of those subsidiaries is a major contributor to total profits. OD. On a constant currency basis, all subsidiaries showed growth in profits except for the Japanese and Chinese subsidiaries. Fortunately for Blundell, neither of those subsidiaries is a major contributor to total profits. of those subsidiaries is a major contributor to local pronts c. Using the results of the constant currency analysis in part (b), is it possible to separate Blundell's growth in earnings between local currency earnings and foreign exchange rate impacts on a consolidated basis? The foreign exchange rate change is %. (Round to two decimal places.)