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E5-38. Foreign Currency Impact Kellogg included the following note in its fiscal 2018 10-K report ($ millions). LO4 KELLOGG COMPANY (K) Adjusted net income attributable

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E5-38. Foreign Currency Impact Kellogg included the following note in its fiscal 2018 10-K report ($ millions). LO4 KELLOGG COMPANY (K) Adjusted net income attributable to Kellogg Foreign currency impact.. Currency-neutral adjusted net income attributable to Kellogg $1,510 4 $1,506 a. Assume the foreign currency impact related entirely to foreign sales. Determine whether the $US strengthened or weakened vis--vis the currencies in which Kellogg conducts business. b. Assume the foreign currency impact related entirely to purchases of goods from foreign vendors. Determine whether the $US strengthened or weakened vis--vis the currencies in which Kellogg conducts business. c. As an analyst, how would we treat this foreign currency impact in our analysis of Kellogg

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