Transit Importing Company.converts its foreign subsidiary financial statements using the translation process.The company's French subsidiary reported the following for 2014: revenues and expenses of 10,500,000 and 6,505,000 francs,respectively,earned or incurred evenly throughout the year,dividends of 500,000 francs were paid during the year.The following exchange rates are available: Translated net income for 2014 is

Question

Transit Importing Company.converts its foreign subsidiary financial statements using the translation process.The company's French subsidiary reported the following for 2014: revenues and expenses of 10,500,000 and 6,505,000 francs,respectively,earned or incurred evenly throughout the year,dividends of 500,000 francs were paid during the year.The following exchange rates are available:  Translated net income for 2014 is

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The Answer of Transit Importing Company.converts its foreign subsidiary financial statements using the translation process.The company's French subsidiary reported the following for 2014: revenues and expenses of 10,500,000 and 6,505,000 francs,respectively,earned or incurred evenly throughout the year,dividends of 500,000 francs were paid during the year.The following exchange rates are available:  Translated net income for 2014 is