What is the net impact on year one net income

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HD Company sells goods to a Spanish customer at a price of 1 million euros. HD shipped good to its customer on December 1, Year1. The payment was received on March 1, Year2. On December 1, Year1, HD signs a contract with First National Bank to deliver 1,000,000 euros in three months in exchange for $1,485,000 Date sport rate forward rate 12/1/Year1 $1.600 $1.485 12/31/Year1 $1.700 $1.520 3/1/Year2 $1.500 $1.500 HD designates the forward contract as a cash flow hedge. What is the ending balance of accumulated other comprehensive income at the end of Year1? HD designates the forward contract as a cash flow hedge. What is the ending balance of accounts receivable at the end of Year1? HD designates the forward contract as a fair value hedge. What is the net impact on Year 1 net income?

Reference no: EM131558800

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