Ganado Europe (D). Using facts in the chapter for Ganado Europe, assume that the exchange rate on January 2, 2016. In Exhibit 116 appreciated from $1.3000/ to $1 5500 Calculate Ganado Europe's translated balance sheet for January 2, 2016, with the new exchange rate using the temporal rate method as shown in the popup window, a. What is the amount of translation gain or loss? b. Where should it appear in the financial statements? a. What is the amount of translation gain or loss? Enter a positive number for again and negative for a loss (Round to the nearest dolar) b. Where should it appear in the financial statements? (Select the best choice below) O A The translation gain ( ) for the yem is added to the balance in the total Assets account OB. The transition gain (los) for the year is added to the balance in the Total Liabilities and Net Worth account O C. The translation gain (los) for the year is added to the balance in the Retained Earnings account OD. The translation gainos) for the year is added to the balance in the Cumulative Translation Adjustment (CTA) account 10/. Calculate eur 21 EXHIBIT 11.6 Ganado Europe's Translation Loss After Depreciation of the Euro: Temporal Method December 31, 2015 January 2, 2016 Exchange Rate Translated Exchange Rate Translated Assets In Euros () (US$leuro) Accounts (USS) (USS/euro) Accounts (USS) Cash 1,500,000 1.3000 $1,950,000 1.5500 $2.325,000 Accounts receivable 3,300,000 1.3000 4,290,000 1.5500 5.115,000 Inventory 2,100,000 1.3210 2,774,100 1.3210 2,774 100 Net plant and equipment 5,300,000 1.3730 7.276,900 13730 7.276.900 Total 12,200,000 $16.291,000 $17,491,000 Liabilities and Net Worth Accounts payable 600,000 13000 $780,000 $930.000 Short-term bank debt 2,000,000 1.3000 2,600,000 1.5500 3.100.000 1.800.000 1.3000 2,340,000 1.5500 Long-term debt 2.790,000 500 000 Common stock 1.3730 2,059,500 1.3730 2,059,500 1.3481 (a) 6,300,000 8,511.500 8,511,500 1.3481 (b) Retained earnings Translation gain (loss) $17.491,000 $16.291,000 12,200,000 Total atid 15500 Print pone Done