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Blundell Biotech is a U.S.-based biotechnology company with operations and earnings in a number of foreign countries. The company s profits by subsidiary, in local currency (in millions), are shown in the following table for 2013 and 2014. The average exchange rate for each year, by currency pairs, was the following. Use this data to answer the following questions. a. What was Blundell Biotech s consolidated profits in U.S. dollars in 2013 and 2014? b. If the same exchange rates were used for both years, what was the change in corporate earnings on a "constant currency" basis? c. Using the results of the constant currency analysis in part b, is it possible to separate Blundell s growth in earnings between local currency earnings and foreign exchange rate impacts on a consolidated basis?
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