B C D Bangkok Instruments, Ltd (A) Bangkok Instruments, Ltd, is the Thai affiliate of a U.S. seismic instrument manufacturer. Bangkok Instruments manufactures the instruments primarily for the oil and gas industry globally, Sales are primarily to multinational companies based in the United States and Europe. Bankok Instruments' balance sheet in thousands of Thai bahts (B) as of March 31st is as follows. Using the data presented, assume that the Thai baht dropped in value from B30/8 to 340/$ between March 31st and April 1st. Assuming no change in balance sheet accounts between these two days, calculate the gain or loss from translation by both the current rate method and the temporal method. Assume that inventory has been acquired at a historical FX rate of B30/8, PP&E has been acquired at B20/s, Common stock at historical rate B20/, Retained Earnings at FX rate of B34/5 TRANSLATION BY THE CURRENT RATE METHOD Balance Sheet (thousands) Before Devaluation After Devaluation Translated Accounts Thai baht Statement Exchange Rate (Baht/USS) Exchange Rate (Baht/USS) Translated Accounts US dollars US dollars Assets Cash 824,000 36,000 48,000 Accounts receivable Inventory Net plant & equipment Total 60,000 8168,000 6 $18,000 60,000 7 8 Liabilities & Net Worth Accounts payable Bank loans Common stock Retained carings CTA account (los) Total 18,000 72,000 99 30 31 32 33 8168,000 Translation (loss or gain)