Bangkok Instruments, Ltd.(A). Bangkok Instruments, Ltd, the Thai subsidiary of a US corporation, is a seismic instrument manufacturer Bangkok instruments manufactures the instruments primarily for the oil and gas industry globally-though with recent commodity price increases of all kinds including copper, its business has begun to grow rapidly Sales are primarily to multinational companies based in the United States and Europe Bangkok Instruments' balance sheet in thousands of Thai bahts (B) as of March 31 is shown in the popup window Exchange rates for translating Bangkok Instruments' balance sheet into US dollars are O 001 B30.00/5 B21.005 April 1 exchange rate, after 25% devaluation March 31 exchange rate, before 25% devaluation All inventory was acquired at this rate Historic exchange rate at which plant and equipment were acquired The Thai baht dropped in value from 830 00/$ to B40 00/$ between March 31 and April 1 Assuming no change in balance sheet accounts between these two days, calculate the geno d es Assets Cash Accounts receivable Inventory ng at Net plant & equipment Bangkok Instruments, Ltd. Balance Sheet, March 1 Liabilities & Net Worth Accounts payable B24,000,000 34,000,000 Bank loans 49,000,000 Common stock 61,000,000 B168,000,000 Retained earnings B20,000,000 60,000,000 18,000,000 70,000,000 B168,000,000 Click on the icon located on the top-right corner of the data table in order to copy its contents into a spreadsheet ton ons Using the translated balance shoot under the current rate method, what is the amount of translation gain or loss? Ender a positive number for a gain and negative for a s (Round to the nearest dollar) Data table Bangkok Instruments' Translation Gain (Loss) After Depreciation of the Baht: Current Rate Method March 31 April1 Exchange Assets Cash In Bahts (B) Rate (B/S) Translated Accounts ($) Exchange Translated Rate (B/S) Accounts ($) B24,000,000 30.00 $800,000 40.00 $600,000 Accounts receivable 34,000,000 30.00 1,133,333 40.00 850,000 Inventory 49,000,000 30.00 1,633,333 40.00 1,225,000 Net plant and equipment 61,000,000 30.00 2,033,333 40.00 1,525,000 Total B168,000,000 $5,599,999 $4,200,000 Data table Liabilities and Net Worth Accounts payable B20,000,000 30.00 $666,667 40.00 $500,000 Bank loans 60,000,000 30.00 2,000,000 40.00 1,500,000 Common stock 18,000,000 21.00 857,143 21.00 857,143 Retained earnings 70,000,000 33.72 (a) 2,076,189 33.72 (b) 2,076,189 Translation adjustment (CTA) ? Total B168,000,000 $5,599,999 $4,200,000 (a) Dollar retained earnings before depreciation are the cumulative sum of additions to retained earnings of all prior years, translated to exchange rates in each year. (b) Translated into dollars at the same rate as before depreciation of the baht