roblem 4-11 (algorithmic)

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Lantau Beer (A): European Sales. Lantau Beer is a Hong Kong-based brewery and files all of its financial statements in Hong Kong dollars (HK$). The company's European sales director, Phillipp Bosse, has been criticized for his performance. He disagrees, arguing that sales in Europe have grown steadily in recent years. Who is correct?(Click on the

icon to import the table into a spreadsheet.)

	2010	2011	2012
Total net sales, HK$	172,035	188,228	244,112
Percent of total sales from Europe	48%	45%	40%
Total European sales, HK$
Average exchange rate, HK$/	11.51	12.19	10.68
Total European sales, euros
Growth rate of European sales

Calculate the necessary variables for the analysis below:(Round HK$ sales to the nearest HK$, round

sales to two decimal places, round growth rate to one decimal place.)

Analysis of European Sales		2010
Total net sales, HK$		172,035
Percent of total sales from Europe		48	%
Total European sales, HK$		82,577
Average exchange rate, HK$/		11.51
Total European sales, euros		7,174.37
Growth rate of European sales

	2011
	188,228
	45	%
	12.19
		%