ABC Inc. sold machinery on account to a U.S. based client on June 30th, Year 1 in the amount of $100,000 U.S. On that date, $1US-$1.20 CAD. The account was settled on July 30th, Year 1, when the rate was $1US-$1.22 CAD. Assuming that ABC Inc. is a publicly traded enterprise that reports its results in Canadian dollars, the effect of this transaction on its financial statements would be a: O Exchange Gain of $2,000 CAD flowing to earnings. O Exchange Loss of $2,000 CAD flowing to earnings. Exchange Gain of $2,000 CAD flowing to OCL C Exchange Loss of $2,000 CAD flowing to OCI