The American subsidiary of Marchal earns income of 600,000 and incurs expenses of 480,000 over the year. Case convention: rates fluctuated little during the year and the average rate of 0.91 euro per 1 dollar approximates the transaction-date rates. Calculate income and expenses translated into euros.
- Income for the year in dollars
- 600,000
- Expenses for the year in dollars
- 480,000