Starbucks opened its first store in zagreb, croatia in october 2010. the price of a tall vanilla latte in zagreb is kn25.70. in new york, the price of a tall vanilla latte is $2.65. the exchange rate between croatian kunas (kn) and u. s dollars is kn5.6288/$.
(a) according to purchasing power parity, is the croatian kuna overvalued or undervalued?
(b) by what percent is the kuna overvalued or undervalued?

Problem 1. the following balance sheet contains errors. lopez services,inc. balance sheet for the year ended december 31, 20-- assets liabilities current assets: current liabilities: cash $ 6,170 accounts receivable $ 9,000 accounts payable 8,500 accum. depr- building 13,525 supplies 1,590 accum. depr- equipment 6,340 prepaid insurance 345 net income 12,500 land 25,000 total current assets $ 42,105 total liabilities $ 40,865 stockholders equity property, plant, and equipment: wages payable $ 500 building $ 45,500 retained earnings 10,000 equipment 28,250 total stockholders' equity $ 64,490 total property, plant, and equipment 73,750 total assets $115,855 total liabilities and stockholders' equity $115,855 (a) list the errors in the balance sheet above and (b) prepare a corrected balance sheet using ms excel