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 $1.2000/6 to $1.6000/6. 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) Dollar retained earnings before depreciation are the cumulative sum of additions to retained earnings of all prior years, translated to exchange rates in each year. (b) Translated into dollars at the same rate as before depreciation of the euro