Import$/$Export Company, a U$.$S$.$ company, made a number of import purchases and export sales denominated in foreign currency in $2012.$ Information related to these transactions is summarized in the following table. The company made each purchase or sale on the date in the Transaction Date column and made payment in foreign currency or received payment on the date in the Settlement Date column.

Answer the following:

Create an electronic spreadsheet with the information from the preceding table. Label columns as follows:

Foreign currency

Type of transaction

Amount of foreign currency

Transaction date

Exchange rate at transaction date

$ value at translation date

Settlement date

Exchange rate at settlement date

$ value at settlement date

Foreign exchange gain $($loss$)$

$2.$ Use historical exchange rate information available on the internet at www$.$x$-$rates.com, historic lookup, to find $2012$ rates between Us dollar and each foreign currency on the relevant transaction and settlement dates. USE $2012!!!$

$3.$ Complete the electronic spreadsheet to determine the foreign exchange gain $($loss$)$ on each transaction. Determine the total net foreign exchange gain $($loss$)$ reported in import.export companies $2012$ income statement.