The following account balances are for the Agee Company as of January 1, 2020, and December 31, 2020. All amounts are de

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The following account balances are for the Agee Company as of
January 1, 2020, and December 31, 2020. All amounts are denominated
in kroner (Kr). January 1, 2020 December 31, 2020 Accounts payable
(13,000 ) (29,000 ) Accounts receivable 30,000 80,000 Accumulated
depreciation—buildings (21,000 ) (26,000 ) Accumulated
depreciation—equipment 0 (5,100 ) Bonds payable—due 2023 (51,000 )
(51,000 ) Buildings 110,000 93,000 Cash 36,000 8,100 Common stock
(60,000 ) (70,000 ) Depreciation expense 0 16,000 Dividends
(10/1/20) 0 33,000 Equipment 0 31,000 Gain on sale of building 0
(6,100 ) Rent expense 0 14,600 Retained earnings (31,000 ) (31,000
) Salary expense 0 21,000 Sales 0 (84,000 ) Utilities expense 0
5,500 Additional Information Agee issued additional shares of
common stock during the year on April 1, 2020. Common stock at
January 1, 2020, was sold at the start of operations in 2013. Agee
purchased buildings in 2014 and sold one building with a book value
of Kr 11,100 on July 1 of the current year. Equipment was acquired
on April 1, 2020. Relevant exchange rates for 1 Kr were as follows:
2013 $ 2.45 2014 2.25 January 1, 2020 2.55 April 1, 2020 2.65 July
1, 2020 2.85 October 1, 2020 2.95 December 31, 2020 3.05 Average
for 2020 2.75 Assuming the U.S. dollar is the functional currency,
what is the remeasurement gain or loss for 2020? The December 31,
2019, U.S. dollar-translated balance sheet reported retained
earnings of $58,350, which included a remeasurement loss of
$12,250. Assuming the foreign currency is the functional currency,
what is the translation adjustment for 2020? The December 31, 2019,
U.S. dollar-translated balance sheet reported retained earnings of
$82,500 and a cumulative translation adjustment of $2,550 (credit
balance). (For all requirements, input all answers as
positive.)