Hosgood Distributing Inc

question 55

Multiple Choice

Hosgood Distributing Inc.converts its foreign subsidiary financial statements using the translation process.Their German subsidiary reported the following for 2014: revenues and expenses of 9,050,000 and 6,400,000 marks,respectively,earned or incurred evenly throughout the year,dividends of 2,000,000 marks were paid during the year.The following exchange rates are available: Translated net income for 2014 is

• A) $755,250.
• B) $715,500.
• C) $662,500.
• D) $675,750.

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