Please show work

Parent established a subsidiary in Mexico on January 1, 2021. The subsidiary engaged in the following transactions during 2021: Jan. 1 Sold common stock to Levinson for 7,500 pesos. Purchased inventory throughout the year, 10,000 pesos. (% of the inventory remained at year end.) Sales for the year totaled 14,000 pesos. Dec. 31 Purchased equipment for 1,500 pesos. Parent concluded that the subsidiary's functional currency was the dollar. Exchange rates for 2021 were: Jan. 1 1 peso - $ 0.23 31 1 peso - $ 0.21 Dec. 31 1 peso = $0.17 Weighted average rate for the year 1 peso - $ 0.20 What amount of foreign exchange gain/loss would have been recognized in the parent's consolidated income statement for 2021