Question 23 12.859 points Save Answer Assume that our subsidiary's income statement in Euros () is reported as follows for the year: Income statement: In Euros (9) Sales 2,500,000 Cost of goods sold (1,600,000) Gross Profit 900,000 Operating expenses (540,000) Net income 360,000 Also assume the following exchange rates: BOY-beginning of the year, EOY end of the year BOY Rate $1.30 / EOY rate $1.40 / Avg. rate $1.35 Required: Assume that the functional currency is the local currency (Euros). In such a case, when the income statement is converted into SUS, what is net income in USD? Just write your answer in number. For example. 100000 should be used instead of $100,000 or 100,000 or $100000