Balance Sheet as at December 31 (in U.S. Dollars)

	2020	2019
Current Monetary Assets	$8,000,000	$7,500,000
Inventory	$2,000,000	$3,000,000
Plant and Equipment (Net)	$1,500,000	$1,800,000
Total Assets	$11,500,000	$12,300,000
Current Liabilities	$1,100,000	$2,300,000
Bonds Payable (due Dec 31, 2026)	$5,000,000	$5,000,000
Common Shares	$4,000,000	$4,000,000
Retained Earnings	$1,400,000	$1,000,000
Total Liabilities and Equity	$11,500,000	$12,300,000

Income Statement for the Year ended December 31, 2020

Sales	$5,200,000
Inventory, January 1, 2020	$3,000,000
Purchases	$3,000,000
Inventory, December 31, 2020	($2,000,000)
Depreciation Expense	$300,000
Other Expenses	$400,000
	$4,700,000
Net Income	$500,000

Other Information: Exchange Rates:

December 31, 2019:	US $1 = CDN $1.1850
September 30, 2020:	US $1 = CDN $1.1975
December 31, 2020:	US $1 = CDN $1.20
Average for 2020:	US $1 = CDN $1.19

Wilsen paid US$100,000 in dividends on September 30, 2020. The inventories on hand at the end of 2020 were purchased when the exchange rate was US$1 = CDN$1.195. Sales, purchases and other expenses occurred evenly throughout the year. Compute Wilsen's exchange gain or loss for 2020 if Wilson's functional currency is the same as Hilman Enterprises' functional currency (i.e., the Canadian dollar).