Hedged Sale Commitment and Exposed Asset Position On June 25, 2023, GlobalAgra Inc., a U.S. company, received a purchase order from a Swiss customer for delivery of merchandise on July 10, 2023, at a price of CHF10,000,000, payable in Swiss francs (CHF) on September 10, 2023. To hedge its exposure to exchange rate changes, on June 25, 2023, GlobalAgra entered a forward contract for delivery of CHF10,000,000 to the broker on September 10, 2020. The merchandise was delivered as scheduled. On September 10, 2023, GlobalAgra received payment from the customer, and delivered the Swiss francs to the broker to close the forward contract. GlobalAgra's accounting year ends December 31. Exchange rates ($/ CHF) are as follows: Spot rate Forward rate for delivery September 10, 2023 June 25, 2023 $1.0506 $1.0507 July 10, 2023 1.0510 1.0511 September 10, 2023 1.0512