Problem 2-14 (book/static) Question Help SpeedFam of Phoenix SpeedFam Electronics of Phoenix sells $12.5 million computer circuits to Vectra of Monterey, Mexico, on January 1, 2016. The sale is invoiced in Mexican pesos (contract for seement). The spot exchange rate on 01 Jan 2016 was NON 17.50 1.0 USD.so a sale of MON 20 million is recorded on the US financial statements as $1,142,857. f Vectra paid six weeks later on February 15, the spot rate is MOON 18.75 -1.0 USD Vectra did not pay until Apr (90 days, the sport is MXN 1724-10 USD a. Complete the sale and seement worksheet below. b. How would the gross margin on the sale change over the three different settlement dates? c. If the total sale was setled on 01 Apr 2016. what would be the foreign exchange gain (los) recorded on the sale? Booked If settled on... I see on 01 Jan 2016 15 Feb 2016 01 Apr 2016 Sale in Mexican peso MXN 20,000,000 20,000,000 20,000,000 Mexican pesos per USD 17.50 18.75 17 24 Homework: Learning Objective 2.3 Homework Score: 0 of 1 pt 2 of 4 (1 complete) Problem 2-14 (book/static) Booked If settled on... 15 Feb 2016 01 Jan 2016 If settled on... 01 Apr 2016 20,000,000 1724 20,000,000 17.50 20,000,000 18.75 Sale, in Mexican pesos MXN Mexican pesos per USD Sales in USD Cost in USD (COGS) Expected Gross Margin (USD) Expected Gross Margin (%) Change from booked 1,142,857 (850,000) (850,000) (830,000)