A corn futures contract covers 5,000 bushels of corn. In October 2015 a company buys an April 2017 corn futures contract for 768.25 cents per bushel. Year-end December 2015, the futures price is 791.75 cents; year-end December 2016, the futures price is 778 cents. In April 2017, the futures price is 731.45 cents. The company works on a calendar year basis with December as its year end. What is the company's actual profit or loss on the contract? Explain how the gain or loss is realized? Explain how the accounting & tax treatments differs between that of a speculator and that of a hedger.