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Use the following information to answer (i)\&(ii): On October 15th,2021, the X Company received an order for a piece of machinery from a foreign customer. The sales price was set at FC200,000 with delivery on December 1 s.2021. X immediately entered into a forward exchange contract to exchange FC200,000 for Canadian dollars on December 31.2021, the due date for the payment by the customer. Exchange rates were as follows: *For contracts expiring on December 31st.2021 i. Assume that hedge accounting is not applied. What amount will be reported by the X Company in sales of machinery for the year ended December 315. 2021? a. $44,000 b. $46,000 c. $40,000 d. $42,000 II. Assume that the forward contract was designated as a cash flow hedge of the sales order from the foreign customer and assume also that any exchange adjustment on the forward contract is applied to the sales account on the date of the sale. What will be reported in sales of machinery by X for the year ended December 315:2021