Q 2 - Kingdom Enterprises is a Indian exporter of leather goods and files all of its financial statements in Indian rupees (INR). The companys American sales director, Carl Murphy, has been criticized for his performance. He disagrees, arguing that sales in America have grown steadily in recent years. Who is correct?

2018 2019 2020 Total net sales (INR) 342,550 375,000 489,800 Sales in America (% age Indian sales) 22% 24% 20% Exchange Rate (INR/$) INR 60.5/$ INR 62.1/$ INR 60.2/$