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 $1.6200/.

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.

$nothing

(Round to the nearest dollar.)

- Data Table EXHIBIT 11.5 Ganado Europe's Translation Loss After Depreciation of the Euro: Current Rate Method P Assets Cash Accounts receivable Inventory In Euros () 1,600,000 3,500,000 2,800,000 December 31, 2015 Exchange Rate Translated (US$/euro) Accounts (US$) 1.1500 $1,840,000 1.1500 4,025,000 1.1500 3,220,000 January 2, 2016 Exchange Rate Translated (US$/euro) Accounts (US$) 1.6200 $2,592,000 1.6200 5,670,000 1.6200 4,536,000