On December 20, 2015, Butanta Company (a U.S. company headquartered in Miami, Florida) sold parts to a foreign customer at a price of 50,000 ostras. Payment is received on January 10, 2016. Currency exchange rates for 1 ostra are as follows:
a. How does the fluctuation in exchange rates affect Butanta’s 2015 income statement?
b. How does the fluctuation in exchange rates affect Butanta’s 2016 income statement?
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