Ganado Europe $($C$).$ Using facts in the chapter for Ganado Europe, assume the exchange rate on January $2,2016,$ in Exhibit $11\mathrm{.}5$ appreciated from $$\frac{1\mathrm{.}1300}{}$lon to $$\frac{1\mathrm{.}5800}{}.$ Calculate Ganado Europe's translated balance sheet for January $2,2016,$ with the new exchange rate using the current rate method as shown in the popup window,

a$.$ What is the amount of translation gain or loss?

b$.$ Where should it appear in the financial statements?

a$.$ What is the amount of translation gain or loss? Enter a positive number for a gain and negative for a loss.

$($Round to the nearest dollar.$)$