Entire problem for both E5-35 & E5-23.

E5-35. Foreign Currency Impact Kellogg included the following note in its fiscal 2015 10-K report (S millions) Comparable net income attributable to Kellogg... Foreign currency impact. . . . Currency neutral comparable net income attributable to Kellogg. . . . .. $1,257 (100 .. $1,357 a. Assume the foreign currency impact related entirely to foreign sales. Determine whether the SUS strengthened or weakened vis--vis the currencies in which Kellogg conducts business. b. Assume the foreign currency impact related entirely to purchases of goods from foreign vendors. Determine whether the SUS strengthened or weakened vis--vis the currencies in which Kellogg conducts business. c. As an analyst, how would we treat this foreign currency impact in our analysis of Kellogg