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please provide explanation Summative Case 3 Foreign Currency fluctuations and Revenue Chikennella has considerable non-US operations. The Table below shows. Chikennella 2015 revenue by geographic

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Summative Case 3 Foreign Currency fluctuations and Revenue Chikennella has considerable non-US operations. The Table below shows. Chikennella 2015 revenue by geographic segment along with related exchange rates at the beginning and end of the year. The exchange rates represent the foreign current equivalent of $1. USD exchange rate 01/01/15 12/31/15 Year ended December 31, 2015 ($ millions) Asia, other than China Europe China ..... Middle East.... Oceania .. Canada Africa - Latin America and Caribbean Total non-U.S. revenues. United States ...... Total revenues.... . Revenue $13,433 12,248 12,556 10,846 2.601 1,870 1,398 1.875 56,827 39,287 $96,114 0.7543 0.8266 6.2025 3.6729 3.5046 1.1618 11.5642 14.7414 0.7063 0.9203 6.4952 3.6729 4.3044 1.3847 15.5159 17.2494 Required a. Most Chikennelle's contracts are denominated in $US. Assume instead that Chikennella wrote contracts for its international customers in their respective domestic currencies. For simplicity, assume the contracts were written on January 2, 2015, and revenue was collected and recognized in December 31, 2015. Use the exchange rate information in the table to calculate the effect on Chikennella's 2015 revenue if contract had been denominated in the various foreign currencies. b. How would the foreign exchange gain or loss that was computed affect net income? c. How could Chikennella treat such a foreign exchange gain or loss in any non-GAAP disclosures the company may make? d. How should we as analysis, treat such a foreign exchange gain or loss

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