Please use the information below to answer part A and B.

Ramos Corp. (a U.S.-based company) sold merchandise on October 1, 2022, with payment of 100 million Korean won to be received on February 1, 2023. The following exchange rates applied:

Date	Spot Rate	Forward Rate to Feb 1
Oct 1, 22	0.00070	0.00075
Dec 31, 22	0.00079	0.00081
Feb 1, 23	0.00082	N/A

A: Assuming a forward contract was entered into on October 1, at what amount should the forward contract be recorded at December 31, 2022 (round to the nearest dollar and use negative number to indicate liability)?

B: Assume a forward contract was entered into on October 1 and the forward contract was properly designated as a fair value hedge. What would be the net foreign exchange gain or loss on Ramos 2023 income statement related to this transaction? Ramos amortizes forward points using the straight-line method. Ignore present values (round to the nearest dollar and use negative number to indicate loss).

THE ABOVE INFORMATION WAS ALL THAT WAS GIVEN. Please show work and highlight answer. PLEASE COMPLETE ALL PARTS AS IT IS A COMPOUNDING QUESTION and as part of Chegg's guidelines, compounding questions must be answered up to 4 parts.