QUESTION 1 On November 1.2020. Americo, a U.S.company with fiscal year-end on December 31 purchased inventory from a company in Spain for 30.000 euro ( with payment du on February 1, 2021. The following foreign exchange rates are available: Spot Rate Forward Rate for 2/1/2021 Delivery November 1, 2020 51.61 51.59 December 31, 2020 $1.65 $1.62 February 1, 2021 $1.60 On March 4.2021. Americo sold all the inventory bought from the Spain supplier for U.S. 570.000 Assume that on November 122020. Americo entered into a 90-day forward contract to purchase 30.000 and designated this forward contract as a chow hedre. Assume that this hedge is highly effective and ignore income tax how much is the amount of net income le net income to be reported on Americo income statement attributable to this hedge for 2020 and 20201 respectively? (Hint: How did AmeriCo designate the forward contract A 50 for 2020 and 5600 income for 2021 B. 5900 income for 2020 and 5600 loss for 2021 OG 50 for 2020 and 5300 income for 2021 0.50 for 2020 and so for 2021 Click Save and Subotit to sow and sibuvit. Click Savers to all unders