Using the information provided in Exercise 2.

Calculate Majikstan Enterprises’ net monetary gain or loss in local currency for 2011 based on the following general price-level information.

12/31/10 30,000 Average 32,900 12/31/11 36,000 Balance Sheet 2010 2011 Cash MJR 2,500 MJR 5,100 Equipment, net 4,000 3,500 Total assets MJR 6,500 MJR 8,600 Current liabilities MJR 1,000 MJR 1,200 Long-term debt 3,000 4,000 Owners’ equity 2,500 3,400 Total MJR 6,500 MJR 8,600