On September 1, Year 3, RC Sloan Company contracted to sell equipment to a firm in France at a selling price of FCU300,000. The contract called for the equipment to be delivered on November 1, Year 3, with payment to be received on February 28, Year 4. On September 1, Year 3, RC Sloan arranged a forward contract to deliver FCU300,000 on February 28, Year 4, at a rate of FCU1 =$1.29. RC Sloan's year-end is December 31. Evehanne ratec usore ae fallnine. S N D F Required: Show all supporting calculations for full marks a) Prepare the memorandum and the journal entries that RC Sloan should make to record the events described assuming that the forward contract is designated as a cash flow hedge (expected monetary position). Assume RC Sloan Company applies hedge accounting. (12 marks) b) Prepare a partial Income Statement and partial Balance Sheet for December 31, Year 3 to indicate how each account would appear on the company's financial statements. (5 marks) c) Calculate the discount or premium (state which one) and explain (along with allocation of dollar values) how the net gain or loss (state which one) it is allocated between cost of hedging and the value of the sale. (3 marks) d) If RC Sloan did NOT enter into a hedge, what is the total gain or loss RC Sloan would have incurred on this transaction? (No journal entries required) (2 marks)