Company A prepares annual financial statements at December 31. Company A purchased inventory from a French supplier on December 1, Year1 for 100,000 euros. Company A pays for the inventory on March 31, Year2 The inventory is sold on May 1, Year2. Relevant exchange rate information for Euros are as follows. Assume Company A does NOT hedge its payables. Spot rate Forward rate to 3/31 December 1, Year1 | 1.01 1.05 December 31, Year1 1.04 1.06 March 31, Year2 1 .10 1.10 1. What does Company A report as a foreign exchange gain (G) or loss (L) in Year2 for this purchase transaction? The numeric answer should be immediately followed by a G or an L. (Example: a $14,000 loss should be entered as 14000L) 2. What will Company A report as cost of goods sold when the inventory is sold? 3. How many U.S. dollars will be required to payoff the account payable on 3/31/Year2