1. On Dec 20, a US firm sold equipment worth 1.000 Euros on account. The payment was received on Jan 20. (There is no forward contract taken hele Exchange rates: 1 Euro 1 Euro 1 Euro $1.30 $1.40 $145 20-Dec 31-Dec 20-Jan Based on the change in the exchange rate, what gain or loss will be reported on Dec 31 by the US firm? Loss of $50 Loss of $100 Lom of $150 Gain of $100