On December 18, 2017, Stephanie Corporation acquired 100 percent of a Swiss company for 4.0 million Swiss francs (CHF), which is indicative of book and fair value. At the acquisition date, the exchange rate was $100 CHF 1 On December 18, 2017, the book and fair values of the subsidiary's assets and liabilities were: CHF 1,314,000 4,014,000 (2,128,000) 814,000 Cash Inventory Property, plants equipment Notes payable Stephanie prepares consolidated financial statements on December 31, 2017 By that date, the Swiss franc has appreciated to $110 CHF 1 Because of the year-end holidays, no transactions took place prior to consolidation Determine the transletion adjustment to be reported on Stephanie's December 31, 2017, consolidated balance sheet, assuming that the Swiss franc is the Swiss subsidiary's functionel currency Whet is the economic relevance of this translation adjustment? b. Determine the remeasurement geain or loss to be reported in Stephanie's 2017 consolidated net income, assuming that the US dollar is the functional curency What is the economic relevance of this remensurement gain or loss? Answer is not complete. Translahon adustment TRemeasurement loss leoshe 2 of 4