during the current year, merchandise is sold for $95,500 cash and $1,315,000 on account. the cost of the goods sold is $848,500. what is the amount of the gross profit?

You are the cfo of a u.s. firm whose wholly owned subsidiary in mexico manufactures component parts for your u.s. assembly operations. the subsidiary has been financed by bank borrowings in the united states. one of your analysts told you that the mexican peso is expected to depreciate by 30 percent against the dollar on the foreign exchange markets over the next year. what actions, if any, should you take