Real-Life Math
You are the CEO of a company that makes clothes. The head office
is in the U.S., but it also has offices in the Philippines, India and Great
Britain. When you look at the profit and loss statements from each of these
countries, you have to convert the money into U.S. dollars.
"CEOs have
to know how to read financial statements, balance sheets and income statements,"
says Lisa Collins. Collins is an executive educator in Wisconsin. "They have
to look at profit and loss statements, and be able to say, 'Oh my gosh,
we are losing a lot of money. How can I turn this company around?'"
Value
in U.S. dollars:
1 Philippine Peso = $0.03 US
1 Indian Rupee = $0.02
US
1 British Pound = $1.61 US
The company
in the Philippines made 3,780,000 pesos. The company in India made 4,000,000
rupees, and the company in Great Britain made 45,000 pounds. Which company
made the largest profit in U.S. dollars?