I NEED HELP FIXING THE INCORRECT$/$INCOMPLETE SECTIONS Kiwi Painting Company engages in a number of foreign currency transactions in euros $().$ For each of the following independent

transactions, determine the dollar amount to be reported in the December $31,20$X$4,$ financial statements for the items presented in the

following requirements. The relevant direct exchange rates for the euro follow:

These are the independent transactions:

Kiwi entered into a forward exchange contract on September $1,204,$ to be settled on February $1,20$X$5,$ to hedge a firm foreign

currency commitment to purchase inventory on November $30,20$X$4,$ with payment due on February $1,20$X$5.$ The forward contract

was for $10,000,$ the agreed$-$upon cost of the inventory. The derivative is designated as a fair value hedge of the firm's commitment.

Kiwi entered into a forward exchange contract on September $1,20$X$4,$ to be settled on February $1,20$X$5,$ to hedge a forecasted

purchase of inventory on November $30,20$X$4.$ The inventory was purchased on November $30$ with payment due on February $1,$

$20$X$5.$ The forward contract was for $10,000,$ the expected cost of the inventory. The derivative is designated as a cash flow hedge

to be continued through to payment of the euro$-$denominated account payable.

Kiwi entered into a forward contract on November $30,20\backslash$times $4,$ to be settled on February $1,20\backslash$times $5,$ to manage the financial currency

exposure of a euro$-$denominated accounts payable in the amount of $10,000$ from the purchase of inventory on that date. The

payable is due on February $1,20$X$5.$ The forward contract is not designated as a hedge.

Kiwi entered into a forward contract on September $1,20$X$4,$ to speculate on the possible changes in exchange rates between the

euro and the U$.$S$.$ dollar between September $1,20$X$4,$ and February $1,20$X$5.$ The forward contract is for speculation purposes and is

not a hedge.

Required:

Enter the dollar amount that would be shown for each of the following items as of December $31,20\backslash$times $4.$ Compute the statement

amounts net. For example, if the transaction generated both a foreign currency exchange gain and a loss, specify just the net amount

that would be reported in the financial statements.

Answer is not complete.