solved Find a recent (within the last two calendar or the

Find a recent (within the last two calendar or the last two fiscal year ends, depending upon the respective financial year end of your chosen company) Annual Report from a publicly-listed company of your choice and personal interest that mentions that the firm has been affected by foreign currency translation, either in the reported earnings (firms generally will always mention any significant favorable or unfavorable impact of changes in exchange rates on their most recent reported earnings in the Business Section of their Annual Reports) or some other important aspect of the firm’s recent business performance.Generally, you can find the Annual Report in the Investor Relations portion of the company’s website.Include in your posting as an attachment a copy of the Annual Report which you chose to use for this Discussion.Then, describe in your own words what must have occurred regarding the impact of foreign currency translation only (note: not foreign currency transactions) on your chosen company’s income statement and balance sheet during the period you are analyzing by answering the following questions:Overall, did the US dollar strengthen or weaken during the reporting period(s) for your chosen company? How did the change in the value of the US dollar impact reported revenues and profits for your chosen company?How did the change in the value of the US dollar impact the Accumulated Translation Adjustments account included in the Statement of (Other) Comprehensive Income and therefore Stockholders’ Equity during the reporting period?Did your chosen firm have any reported foreign exchange translation gains or losses during the reporting period? If they did, what does that mean with regards to the movement(s) of foreign exchange currency rates during the respective reporting period?Are there any other important or unusual items on the Income Statement or the Statement of (Other) Comprehensive Income for the reporting period related to foreign currency translation? If so, what do they mean in plain English?Cut and paste into your initial response what the company disclosed about the impact of foreign currency translation on the company’s results as you answer the above questions. Also, in your initial response, show any Accumulated Translation Adjustments included in the Stockholders’ Equity section of the most recent balance sheet or on the Statement of (Other) Comprehensive Income.