During 2018, peoria airlines paid salary expense of $ 40.8 million. at december 31, 2018, peoria accrued salary expense of $ 2.3 million. peoria then paid $ 2.6 million to its employees on january 3, 2019, the company's next payday after the end of the 2018 year. for this sequence of transactions, show what peoria would report on its 2018 income statement and on its balance sheet at the end of 2018.

S. you are changing planes in london for a flight to paris where you will connect with your flight to capetown. you are picking up reading material for the flight and are looking at the prices listed on the economist magazine which conveniently lists prices in several different global currencies. you note that the price in pounds is 2.40 pounds and the price in euros is 2 euros. the exchange rate for the dollar (your credit card was issued in the usa) is $1.59/pound and s1.3837/euro. should you buy reading materials now or wait until you're in paris?