Required 1. Determine the amount at which the receivables and payables should be reported in Sho's December 31, 2016, balance sheet. 2. Calculate individual gains and losses on each of the receivables and payables and the net exchange gain that should appear in Sho's 2016 income statement. 3. When the sale occurs, assume that Sho wants to hedge its exposure to amounts denominated in euros. Should it buy or sell euros for future delivery? In what amount or amounts? Required 1. Determine the amount at which the receivables and payables should be reported in Sho's December 31, 2016, balance sheet. 2. Calculate individual gains and losses on each of the receivables and payables and the net exchange gain that should appear in Sho's 2016 income statement. 3. When the sale occurs, assume that Sho wants to hedge its exposure to amounts denominated in euros. Should it buy or sell euros for future delivery? In what amount or amounts