(P.T.O) Q.5 Airlines, like Delta, Southwest, and United, are affected by changes in the price of jet fuel. 2. Financial institutions, such as Citigroup, Bankers Trust, and BMO Harris, are involved in borrowing and lending funds that are affected by changes in interest rates, 3. Multinational corporations, like Cisco Systems, Coca-Cola, and General Electric, are subject to changes in foreign exchange rates. Instruction: In light of IFRS and GAAP, cite reasons for global businesses facing scenarios above for financial transactions' disclosure at Fair value? b)- Laurent Inc. Purchased 3,500 racing bicycles from Neon Inc., a Japanese company, at a price of 55,000,000. Payment is due in 90 days, the current exchange rate is $0.0098 per yen. Instruction: Calculate the December 31 currency translation gain/loss resulting from account payable to Neon Inc. The year-end exchange rate is $0.0099 per Japanese yen