Matthias Corp. had the following foreign currency transactions during 2020:

Purchased merchandise from a foreign supplier on January 20 for the U.S. dollar equivalent of $62,500 and paid the invoice on April 20 at the U.S. dollar equivalent of $50,700.

On September 1, borrowed the U.S. dollar equivalent of $304,000 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 $326,000.

In Matthiass 2020 income statement, what amount should be included as a net foreign exchange gain or loss?

Matthias Corp, had the following foreign currency transactions during 2020: Purchased merchandise from a foreign supplier on January 20 for the U.S. dollar equivalent of $62,500 and paid the invoice on April 20 at the U.S. dollar equivalent of $50,700. On September 1, borrowed the U.S. dollar equivalent of $304,000 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 $326,000. In Matthias's 2020 income statement, what amount should be included as a net foreign exchange gain or loss? Multiple Choice $33.800 loss Winda Multiple Choice O O O O $33,800 loss $22,000 gain $11,800 gain $10,200 loss