i) On November 15, 20X3, Chow Inc., a U.S. company, ordered merchandise FOB shipping point from a German company for 200,000. The merchandise was shipped and invoiced on December 10, 20X3. Chow paid the invoice on January 10, 20X4. The spot rates for euros on the respective dates were: November 15, 20X3 $0.4955 December 10, 20X3 0.4875 December 31, 20X3 0.4675 January 10, 20X4 0.4475 What would be Chows December 31, 20X3, income statement, the foreign exchange gain? ii) Stees Corporation had the following foreign currency transactions during 20X2. First, it purchased merchandise from a foreign supplier on January 20, 20X2, for the U.S. dollar equivalentof $90,000. The invoice was paid on March 20, 20X2, at the U.S. dollar equivalent of $96,000.Second, on July 1, 20X2, Stees borrowed the U.S. dollar equivalent of $500,000 evidenced by a note that was payable in the lenders local currency on July 1, 20X4. On December 31, 20X2, the U.S. dollar equivalents of the principal amount and accrued interest were $520,000 and $26,000, respectively. Interest on the note is 10 percent per annum. In Steess 20X2 income statement, what amount should be included as a foreign exchange loss? iii). On September 1, 20X1, Cott Corporation received an order for equipment from a foreign customer for 300,000 LCUs when the U.S. dollar equivalent was $96,000. Cott shipped the equipment on October 15, 20X1, and billed the customer for 300,000 LCUs when the U.S. dollar equivalent was $100,000. Cott received the customers remittance in full on November 16, 20X1, and sold the 300,000 LCUs for $105,000. In its income statement for the year ended December 31, 20X1, how much Cott should report a foreign exchange gain? iv). On April 8, 20X3, Trul Corporation purchased merchandise from an unaffiliated foreign company for 10,000 units of the foreign companys local currency. Trul paid the bill in full on March 1, 20X4, when the spot rate was $0.45. The spot rate was $0.60 on April 8, 20X3, and was $0.55 on December 31, 20X3. For the year ended December 31, 20X4, how much Trul should report a transaction gain? v). Cobb Co. purchased merchandise for 300,000 pounds from a vendor in London on November 30, 20X5. Payment in British pounds () was due on January 30, 20X6. The exchange rates to purchase 1 pound were as follows: November 30, 20X5 December 31, 20X5 Spot rate $1.65 $1.62 30-day rate 1.64 1.59 60-day rate .63 1.56 In its December 31, 20X5, income statement, what amount should Cobb report as a foreign exchange gain?