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2. ABC Inc. is a Canadian company that reports its results in Canadian dollars. The company sold equipment to a customer in the U.S. for

2. ABC Inc. is a Canadian company that reports its results in Canadian dollars. The company sold equipment to a customer in the U.S. for $95,000 US on January 1, 2023 when the exchange rate was $1 CDN = $0.95 US. The client received the equipment on January 31st, 2023 and promptly wired the required payment to ABC Inc. On January 31, 2023, $1 CDN = $0.96 US

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