Done reported to Chegg Support.

Daffodils Bhd is a Malaysian corporation specialising in producing electronics and electrical goods. Daffodils Bhd is also the second largest exporter of the products. On 1 January 2022, Daffodils Bhd acquired 75 percent of the equity capital of Gardenias Ltd for RM320,000,000. The currency of Queensland, where Gardenias operates, is the AUD. No share capital has been issued since the acquisition. On the date of acquisition, it was assessed that the retained earnings of Gardenias were AUD92,000,000, and the revaluation reserve for land was AUD5,000,000. The revaluation was not recorded yet. The retained earnings for the year are worth AUD118,000,000. Local competition determines the selling prices for Gardenias' products, which are denominated in AUD. All sales and operating costs are incurred locally and settled in AUD. Gardenias' operations are conducted with high independence by the company's management. Gardenias Ltd is not reliant on Daffodils Bhd for its business operations funding. The following are the financial statements of both companies for the year ended 31 December 2022: Statement of financial position as at 31 December 2022 Statement of profit or loss for the year ended 31 December 2022 Daffodils Bhd Statement of changes in equity for the year ended 31 December 2022 Additional information: 1. The group measures its non-controlling interests based on its proportional share of the subsidiary's net assets as of the date of acquisition. 2. Unless otherwise stated, it is assumed that all income and expenses accrue evenly throughout the year. 3. On 1 July 2022, Daffodils Bhd sold Gardenias Ltd RM20,000,000 worth of goods on credit. The related amounts were paid in full by Gardenias on 1 November 2022. However, Gardenias did not adjust the foreign exchange differences on that date, and the gain or loss resulting from the payment is still reflected in its trade payables account. By 31 December 2022, Gardenias has sold all items purchased from Daffodils to its clients. The group's policy is to charge a 25% cost-plus for intercompany sales. 4. The functional currencies of Daffodils Bhd and Gardenias Ltd are Ringgit Malaysia (RM) and Australian Dollar (AUD), respectively. The following are the exchange rates on the relevant dates: b. Calculate the gain or loss on translation of goodwill (if any) arising from the acquisition of Gardenias Ltd for the year ended 31 December 2022. d. Compute the exchange difference arising from the translation of the financial statements of Gardenias Ltd for the year ended 31 December 2022