Finnish Company converts its foreign subsidiary financial statements using the translation process. The company's subsidiary in Denmark reported the following for 2014: revenues and expenses of 95,000 and 63,000 kroner, respectively, earned or incurred evenly throughout the year, dividends of 43,000 kroner were paid during the year. The following exchange rates are available: On January 1 . 2014
.................................... $2.50 On December 31 . 2014 .................................. 3.00 Average rate for 2014 ................................. 2.70 Rate when dividends were declared and paid ............ 2.90 Translated net income for 2014 is
a. $86,400.
b. $96,000.
c. $(29,700).
d. $(28,500).
A
Business
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