A U.S. company buys merchandise from a foreign company denominated in the foreign currency. Which of the following statements is true?

1. If the foreign currency appreciates, a foreign exchange gain will result.
2. Any gain or loss will be included in comprehensive income.
3. No foreign exchange gain or loss will result.
4. If the foreign currency depreciates, a foreign exchange loss will result.
5. If the foreign currency appreciates, a foreign exchange loss will result.