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Please provide the equations used and explanations Exchange rate: 1 Swiss Franc = 1.05 Euro Question: In the last year, my company had revenues of
Please provide the equations used and explanations Exchange rate: 1 Swiss Franc = 1.05 Euro Question: In the last year, my company had revenues of 1.408 million euros. My COGS is 480,000 Euros. Allowance for bad debt and warranty was 200,000 Euros. SG\&A was 617,500 Euros. Retained Earnings at the end of that period were 2.8 million Euros. Dividends in the amount of 21,100 Swiss Francs were paid in that period. What were the Retained Earnings at the beginning of the period? -We need two equations related to financial statements to solve this problem. - Dividends are given in Swiss Francs, while the remaining amounts are provided in Euros. In your solution, please provide the date (from September 2022) and the source (i.e., website) of the related currency exchange rate. We can ignore taxes for the purposes of solving this
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