Import/Export Company, a U.S. company, made a number of import purchases and export sales denominated in foreign currency in the current year. 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.

Foreign Currency	Type of Transaction	Amount in Foreign Currency	Transaction Date	Settlement Date
Brazilian Real	Import purchase	(130,000)	4/6/2020	4/7/2020
Canadian Dollar	Import purchase	(30,000)	1/6/2020	4/14/2020
Swiss Franc	Export sale	50,000	3/16/2020	4/2/2020
Swiss Franc	Import purchase	(40,000)	4/1/2020	4/8/2020
Swedish Krona	Export sale	55,000	2/10/2020	4/10/2020
Malaysian Ringgit	Export sale	45,000	2/24/2020	4/17/2020
Chinese Yuan Renminbi	Import purchase	(300,000)	3/10/2020	4/10/2020

Create a spreadsheet with the information from the preceding table to calculate the foreign exchange gain or loss on each transaction, as well as to determine the total net foreign exchange gain or loss reported in Import/Export Company's current year income statement. Use foreign exchange rates from the Federal Reserve to calculate your gains and/or losses.