questions i cant figure out??

Brandlin Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017 with payment of 17.000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017, Brandlin enters into a forward contract to purchase 17.000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2017 December 31, 2017 March 1, 2018 Spot Rate $ 3.5e 3.60 3.75 Forward Rate (to March 1, 2018) 53.575 3.700 N/A Brandlin's incremental borrowing rate is 12 percent. The present value factor for two months at an annual interest rate of 12 percent (1 percent per month) is 0.9803. Brandlin must close its books and prepare financial statements at December 31 a-1. Assuming that Brandlin designates the forward contract as a cash flow hedge of a foreign currency payable and recognizes any premium or discount using the straight-line method, prepare journal entries for these transactions in US dollars. a-2. Assuming that the purchased parts became a part of the cost of goods sold in 2017, what is the impact on 2017 net income? a-3. What is the impact on 2018 net income? a-4. What is the impact on net income over the two accounting periods? b-1. Assuming that Brandlin designates the forward contract as a fair value hedge of a foreign currency payable, prepare journal entries for these transactions in U.S. dollars. b-2. Assuming that the purchased parts became a part of the cost of goods sold in 2017, what is the impact on net income in 2017 and in 2018? b-3. What is the impact on net income over the two accounting periods? No Date General Journal Credit Debit 59,500.00 12/01/2017 Cost of goods sold Accounts payable (K) 59,500.00 12/01/2017 No journal entry required 12/31/2017 1.700.00 Foreign exchange loss Accounts payable (K) 1.700.00 12/31/2017 No journal entry required ooooooooo 0 0 0 12/31/2017 2,083.14 Forward contract Gain on forward contract 2,083.14 12/31/2017 No journal entry required 03/01/2018 2,550.00 Foreign exchange loss Accounts payable (K) 2,550.00 03/01/2018 No journal entry required 03/01/2018 891.86 Forward contract Gain on forward contract 891.86 5 12/31/2017 2,083.14 Forward contract Gain on forward contract 2.083.14 12/31/2017 No journal entry required 03/01/2018 2,550.00 Foreign exchange loss Accounts payable (K) 2,550.00 03/01/2018 No journal entry required 9 03/01/2018 891.86 Forward contract Gain on forward contract 891.86 oo 000 000 000 6 10 03/01/2018 No journal entry required 03/01/2018 Foreign currency (K) 63.750.00 Cash 60.775.00 2,975.00 Forward contract 03/01/2018 63.750.00 Accounts payable (K) Foreign currency (K) 63.750.00 Impact on 2017 income $ 59,116.00 [ Impact on 2018 income Impact on net income over 2017 and 2018