Let’s suppose you (USA dealer) imported a product from German on Dec 1, 2018, at € 300, payable in 60 days. You sold all of them in the US market at $400 in cash on Dec 15, 2018. The company's fiscal year ends on Dec 31. You paid your German supplier on Feb 1, 2019. Below, please find the exchange rate information: Dec 1, 2018: 1.2 $/€. Dec 31, 2018: 1.5 $/€ Feb 1, 2019: 1.0 $/€ What was net income for 2018 and 2019, respectively?

Group of answer choices

A) -$50, $150

B) $250, -100

C)$200, $100

D)$250, $100

Answer rating: 100% (QA)

Net incomeloss for 2018 Cost of product in euro 300 Sale price in ... View the full answer