On January 1, 2014, Trenten Systems, a U.S.-based company, purchased a controlling interest in Grant Management Consultants located in Zurich, Switzerland. The acquisition was treated as a purchase transaction. The 2014 financial statements stated in Swiss francs are given below.

GRANT MANAGEMENT CONSULTANTS Comparative Balance Sheets January 1 and December 31, 2014
		Jan. 1		Dec. 31
Cash and Receivables		20,200		56,100
Net Property, Plant, and Equipment		39,600		36,600
Totals		59,800		92,700
Accounts and Notes Payable		30,100		32,500
Common Stock		19,700		19,700
Retained Earnings		10,000		40,500
Totals		59,800		92,700

GRANT MANAGEMENT CONSULTANTS Consolidated Income and Retained Earnings Statement for the Year Ended December 31, 2014
Revenues		76,100
Operating Expenses including Depreciation of 3,000 francs		30,600
Net Income		45,500
Dividends Declared and Paid		15,000
Increase in Retained Earnings		30,500

Direct exchange rates for Swiss franc are:

		Dollars per Franc
January 1, 2014		$0.5987
December 31, 2014		0.5321
Average for 2014		0.5654
Dividend declaration and payment date		0.5810

Prepare a schedule to verify the translation gain or loss. (Round answers to 0 decimal places, e.g. 5,125. Enter loss and negative answers using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).)