Question
Target Corporation has a subsidiary in Singapore, AMC Ltd., whose functional currency is the Singapore dollar. Assumed translated data for the subsidiary appear below. Date
Target Corporation has a subsidiary in Singapore, AMC Ltd., whose functional currency is the Singapore dollar. Assumed translated data for the subsidiary appear below.
Date or Annual Period | Total Assets | Operating Income | Exchange Rate | |||
---|---|---|---|---|---|---|
January 1, 2020 | $112,000,000 | -- | $1.20/S$ | |||
2020 Average | -- | $12,000,000 | 1.00/S$ | |||
December 31, 2020 | 95,000,000 | -- | 0.80/S$ | |||
2021 Average | -- | 10,890,000 | 0.70/S$ | |||
December 31, 2021 | 95,000,000 | -- | 0.80/S$ |
Required
Calculate return on assets for 2020 and 2021 using both translated ($) and Singapore dollar data.
Round answers to three decimal places.
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