On April 1, 2022, Shannon Company, a U.S. company, borrowed 100,000 euros from a foreign bank by signing an interest-bearing note due April 1, 2023. The dollar value of the loan was as follows: Date April 1, 2022 December 31, 2022 April 1, 2023 Amount $ 97,000 103,000 105,000 How much foreign exchange gain or loss should be included in Shannon's 2022 income statement? 00 $6,000 loss $6,000 gah $3,000 loss $3,000 gain Activate Windows Go to Settings to activate Windows. Clark Stone purchases raw material from its foreign supplier, Rinne Clay, on May 8. Payment of 1,500,000 foreign currency units (FC) is due in 30 days. May 31 is Clark's fiscal year-end. The applicable exchange rates were as follows: Date May 8 May 31 June 7 Spot Rate $ 1.16 $ 1.18 $ 1.12 How much Foreign Exchange Gain or Loss should Clark record on May 31? $30,000 loss $30,000 gain $60,000 gain $60,000 loss Activate Windows.