please show work and all necesarry steps

3. Zesto Company (a US company) establishes a subsidiary in Mexico on January 1, Year 1. The subsidiary begins the year with 1,000,000 Mexican pesos (MXN) in cash and no other assets or liabilities. It immediately uses MXN 600,000 to acquire equipment. Inventory costing MXN 300,000 is acquired evenly throughout the year and sold for Mex 500,000 cash. A dividend of MXN 100,000 is paid to the parent on October 1, Year 1. Depreciation on the equipment for the year is MXN 60,000. Currency exchange rates between the US dollar and MXN for Year 1 are as follows: 1-Jan 1-Oct 31-Dec 0.09 0.08 0.078 0.085 Average for the year Required: Determine the amount of remeasurement loss under the temporal method to be recognized in the Year 1 consolidated income statement