cant figure this out??

Brandin Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017 with payment of 17000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017 Brandlin enters into a forward contract to purchase 17000 korunas on March 1, 2018 Relevant exchange rates for the koruna on various dates are as follows: December 1, 2017 December 31, 2017 March 1, 2018 Spot Rate $ 3.50 3.60 Forward Rate (to March 1, 2018) S1.575 3.700 NA 3.75 Brandlin's incremental borrowing rate is 12 percent. The present value factor for two months at an annual interest rate of 12 percent percent per month) is 0.9803. Brandlin must close its books and prepare financial statements at December 31 2-1. Assuming that Brandlin designates the forward contract as a cash flow hedge of a foreign currency payable and recognizes any premium or discount using the straight-line method, prepare journal entries for these transactions in US dollars a-2. Assuming that the purchased parts became a part of the cost of goods sold in 2017, what is the impact on 2017 net income? -3. What is the impact on 2018 net income? 3-4. What is the impact on net income over the two accounting periods? b-1. Assuming that Brandlin designates the forward contract as a fair value hedge of a foreign currency payable prepare journal entries for these transactions in US dollars. b-2. Assuming that the purchased parts became a part of the cost of goods sold in 2017 what is the impact on net income in 2017 a in 2018? b-3. What is the impact on net income over the two accounting periods? No General Journal Credit Date 12/01/2017 Debit 59,500.00 Cost of goods sold Accounts payable (K) 59,500.00 12/01/2017 No journal entry required 12/31/2017 1.700.00 Foreign exchange loss Accounts payable (K) 1.700.00 12/31/2017 2,083.14 Forward contract Accumulated other comprehensive income 2,083.14 12/31/2017 1,700.00 Accumulated other comprehensive income Gain on forward contract 1,700.00 12/31/2017 425.00 Premium expense Accumulated other comprehensive income 425.00 03/01/2018 Foreign exchange loss Accounts payable (K) 2,550,00 2,550.00 03/01/2018 891.86 Forward contract Accumulated other comprehensive income 891.86 12/31/2017 425.00 Premium expense Accumulated other comprehensive income 425.00 03/01/2018 2,550.00 Foreign exchange loss Accounts payable (K) 2,550.00 8 03/01/2018 891.86 Forward contract Accumulated other comprehensive income 891.86 03/01/2018 2,550.00 Accumulated other comprehensive income Gain on forward contract 2,550.00 10 03/01/2018 850.00 Premium expense Accumulated other comprehensive income 850.00 11 03/01/2018 63,750.00 Foreign currency (K) Cash -60,775.00 2,975.00 Forward contract Oo oo 12 03/01/2018 63,750.00 Accounts payable (K) Foreign currency (K) 63,750.00 Complete this question by entering your answers in the tabs below. Req A1 Req A2 to A4 Req B1 Reg B2 to B3 a-2. Assuming that the purchased parts became a part of the cost of goods sold in 2017, what is the impact on 2017 net Income? a-3. What is the impact on 2018 net income? a-4. What is the impact on net income over the two accounting periods? (Do not round Intermediate calculations. In case of negative impact on Income, answer should be entered with a minus sign.) Show less Impact on 2017 income Impact on 2018 income Impact on net income over 2017 and 2018 Brandin Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017 with payment of 17000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017 Brandlin enters into a forward contract to purchase 17000 korunas on March 1, 2018 Relevant exchange rates for the koruna on various dates are as follows: December 1, 2017 December 31, 2017 March 1, 2018 Spot Rate $ 3.50 3.60 Forward Rate (to March 1, 2018) S1.575 3.700 NA 3.75 Brandlin's incremental borrowing rate is 12 percent. The present value factor for two months at an annual interest rate of 12 percent percent per month) is 0.9803. Brandlin must close its books and prepare financial statements at December 31 2-1. Assuming that Brandlin designates the forward contract as a cash flow hedge of a foreign currency payable and recognizes any premium or discount using the straight-line method, prepare journal entries for these transactions in US dollars a-2. Assuming that the purchased parts became a part of the cost of goods sold in 2017, what is the impact on 2017 net income? -3. What is the impact on 2018 net income? 3-4. What is the impact on net income over the two accounting periods? b-1. Assuming that Brandlin designates the forward contract as a fair value hedge of a foreign currency payable prepare journal entries for these transactions in US dollars. b-2. Assuming that the purchased parts became a part of the cost of goods sold in 2017 what is the impact on net income in 2017 a in 2018? b-3. What is the impact on net income over the two accounting periods? No General Journal Credit Date 12/01/2017 Debit 59,500.00 Cost of goods sold Accounts payable (K) 59,500.00 12/01/2017 No journal entry required 12/31/2017 1.700.00 Foreign exchange loss Accounts payable (K) 1.700.00 12/31/2017 2,083.14 Forward contract Accumulated other comprehensive income 2,083.14 12/31/2017 1,700.00 Accumulated other comprehensive income Gain on forward contract 1,700.00 12/31/2017 425.00 Premium expense Accumulated other comprehensive income 425.00 03/01/2018 Foreign exchange loss Accounts payable (K) 2,550,00 2,550.00 03/01/2018 891.86 Forward contract Accumulated other comprehensive income 891.86 12/31/2017 425.00 Premium expense Accumulated other comprehensive income 425.00 03/01/2018 2,550.00 Foreign exchange loss Accounts payable (K) 2,550.00 8 03/01/2018 891.86 Forward contract Accumulated other comprehensive income 891.86 03/01/2018 2,550.00 Accumulated other comprehensive income Gain on forward contract 2,550.00 10 03/01/2018 850.00 Premium expense Accumulated other comprehensive income 850.00 11 03/01/2018 63,750.00 Foreign currency (K) Cash -60,775.00 2,975.00 Forward contract Oo oo 12 03/01/2018 63,750.00 Accounts payable (K) Foreign currency (K) 63,750.00 Complete this question by entering your answers in the tabs below. Req A1 Req A2 to A4 Req B1 Reg B2 to B3 a-2. Assuming that the purchased parts became a part of the cost of goods sold in 2017, what is the impact on 2017 net Income? a-3. What is the impact on 2018 net income? a-4. What is the impact on net income over the two accounting periods? (Do not round Intermediate calculations. In case of negative impact on Income, answer should be entered with a minus sign.) Show less Impact on 2017 income Impact on 2018 income Impact on net income over 2017 and 2018