Ganado Europe (C). Using facts in the chapter for Ganado Europe, assume the exchange rate on January 2, 2016, in Exhibit 11.5 appreciated from $1.1500/ to $1.6000/. 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? Enter a positive number for a gain and negative for a loss.

b. Where should it appear in the financial statements?