Matthias Corp. had the following foreign currency transactions during 2017: Purchased merchandise from a foreign supplier on January 20 for the U.S. dollar equivalent of $62,200 and paid the invoice on April 20 at the U.S. dollar equivalent of $54,500. On September 1, borrowed the U.S. dollar equivalent of $306,000 evidenced by a note that is payable in the lender's local currency in one year. On December 31, the U.S. dollar equivalent of the principal amount was $325,000. In Matthias's 2017 income statement, what amount should be included as a net foreign exchange gain or loss? Multiple Choice $26,700 loss $11,300 loss $19,000 gain $7,700 gain