CCHERE TO SAVE YOUR WORK KBB A 7 PROBLEM #3 B B 2019 B C D G "The year started with a currency flash crash as the US and Australian dollars, along with the Turkish lira, plunged against the Japanese yen to raise the curtain on what analysts expect to be a hugely volatile 12 months." NOTE: "plunged" means fell rapidly AND "volatile" means changing rapidly REQUIRED: Assume you are a Japanese company, and answer the questions below. S1) is the information in the newspaper good news or bad news for your currency? 6 32) Explain your answer below O 13) Between Jan 1 and Jan 7, 2019, did the indirect exchange rate increase or decrease? 2 " 44) On January 1, you entered into an export transaction denominated in US dollars and you received payment on Feb 1 5 the Jan 1 purchase would you record a foreign currency gain or loss on your income statement? 95) On January 1, you entered into an import transaction denominated in Japanese yen and you paid for the purchase c o the Jan 1 1 purchase would you record a foreign currency gain or loss on your income statement? 4