On December 1, 2017, Americo, Corporation purchased wine on credit from Venezia Company for 700,000. Payment is not due for 90 days. Thus, the transaction will be settled on February 28, 2018. On December 1, 2017, Americo, Corporation also entered into a 90-day forward contract to purchase 700,000. The forward contract is not designated as a hedge. The direct exchange rates were as follows SPOT FORWARD 2/1/2017$144 2/31/2017 $139 146 $1.40 (90 days $1.38 (60 days) REQUIRED: Prepare the required information below for both the orniginal (underlying) transaction and the related forward contract BE SURE TO CLEARLY SHOW ALL OF YOUR WORK. Foreign Currency Transaction Forward Contract Foreign Currency Transaction Forward Contract NTATION INCOME STATEMENT BALANCE SHEET Foreign Currency Transaction Forward Contract