Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 19

On December 20, 2011, Butanta Company (a U.S.company headquartered in Miami, Florida) sold parts to a foreign customer at a price of 50,000 ostras.Payment is received on January 10, 2012.Currency exchange rates for 1 ostra are as follows:
a.How does the fluctuation in exchange rates affect Butanta's 2011 income statement
b.How does the fluctuation in exchange rates affect Butanta's 2012 income statement