Sales $9,600,000 Variable Expenses 6,810,000 Contribution Margin 2,790,000 Fixed Expenses 1,926,000 Net Operating Income $ 864,000 Average Operating Assets $4,000,000 At the beginning of this year, the company has a $1,200,000 investment opportunity
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On December 12, year 1, Imp Co. entered into three forward exchange contracts, each to purchase 100,000 euros in ninety days. The relevant exchange rates are as follows: Spot rate Forward rate (for March 12, year 2) November 30, year 1 $.87 $.
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