Pennymarkets Corporation, a U.S. firm, acquired Super-Valu, on January 1, 2016. Super-Valu is a Swedish company that has been in existence for several years, and whose functional currency is the U.S. dollar. Comparative account balances for January 1 and December 31, 2016, appear below, measured in krona (kr), the Swedish currency.

Exchange rates in 2016 were:

Required 

Remeasure SuperValu’s 2016 ending trial balance into U.S. dollars. Include a schedule calculating the 2016 remeasurement gain or loss,,sappearing in 2016 income.

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Account Balances Cash.. Accounts receivable, net. Plant and equipment, net.. Accounts payable.. Notes payable Capital stock Retained earnings, January 1.. Sales.... Depreciation expense.. Other expenses Totals... January 1 kr 175,000 400,000 Dr (Cr) December 31 kr 240,000 360,000 2,000,000 2,320,000 (535,000) (200,000) (800,000) (600,000) (400,000) (400,000) (1,160,000) (1,160,000) (1,200,000) 320,000 640,000 kr 0 kr