Icebreaker Company (a U.S.-based company) purchases materials from a foreign supplier on December 1, 2023, with payment of 12,000 dinars to be made on March 1,2024. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1,2023, Icebreaker enters into a forward contract to purchase 12,000 dinars on March 1, 2024. Relevant exchange rates for the dinar on various dates are as follows: Required: a-1. Assuming that lcebreaker designates the forward contract as a cash flow hedge of a foreign currency payable, prepare journal entries for the import purchase and foreign currency forward contract in U.S. dollars. a-2. What is the impact on 2023 net income? a-3. What is the impact on 2024 net income? a-4. What is the impact on net income over the two accounting periods? b-1. Assuming that Icebreaker designates the forward contract as a fair value hedge of a foreign currency payable, prepare journal entries for the import purchase and foreign currency forward contract in U.S. dollars. b-2. What is the impact on net income in 2023 and in 2024 ? b-3. What is the impact on net income over the two accounting periods? Complete this question by entering your answers in the tabs below. Assuming that Icebreaker designates the forward contract as a cash flow hedge of a foreign currency payable, prepare journal entries for the import purchase and foreign currency forward contract in U.S. dollars. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Assuming that Icebreaker designates the forward contract as a cash flow hedge of a foreign currency payable, prepare journal entries for the import purchase and foreign currency forward contract in U.S. dollars. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Journal entry worksheet Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. a-2. What is the impact on 2023 net income? a-3. What is the impact on 2024 net income? a-4. What is the impact on net income over the two accounting periods? Note: for all requirements, do not round intermediate calculations. Negative amounts should be entered with a minus sign. Assuming that Icebreaker designates the forward contract as a fair value hedge of a foreign currency payable, prepare journal entries for the import purchase and foreign currency forward contract in U.S. dollars. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Journal entry worksheet b-2. What is the impact on net income in 2023 and in 2024 ? b-3. What is the impact on net income over the two accounting periods? Note: For all requirements, do not round intermediate calculations. Negative amounts should be entered with a minus sign