Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria where the local currency unit is the naira (NGN). On December 31, 2019, the subsidiary had the following balance sheet (amounts are in thousands [000s]): Cash Inventory Land Building Accumulated depreciation NGN 16,790 11,900 4,190 41,900 (20,950) NGN 53,830 2020 Feb. 1 Paid 8,190,000 NGN on the note payable. May 1 Sold entire inventory for 17,900,000 NGN on account. June 1 Sold land for 6,190,000 NGN cash. The subsidiary acquired the inventory on August 1, 2019, and the land and building in 2013. It issued the common stock in 2011. During 2020, the following transactions took place: Aug. 1 Collected all accounts receivable. Sept. 1 Signed long-term note to receive 8,190,000 NGN cash. Oct. 1 Bought inventory for 20,190,000 NGN cash. 2011 2013 August 1, 2019 Nov. 1 Bought land for 3,190,000 NGN on account. Dec. 1 Declared and paid 3,190,000 NGN cash dividend to parent. Dec.31 Recorded depreciation for the entire year of 2,095,000 NGN. The U.S dollar ($) exchange rates for 1 NGN are as follows: NGN 1 1 1 Notes payable Common stock Retained earnings = = = $0.0067 0.0061 0.0081 NGN 20,380 22,300 11, 150 NGN 53,830

Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria where the local currency unit is the naira (NGN). On December 31. 2019, the subsidiary had the following balance sheet (amounts are in thousands [000s]): The subsidiary acquired the inventory on August 1, 2019, and the land and bullding in 2013. It issued the common stock in 2011. During 2020, the following transactions took place: 2020 Feb. 1 Paid 8,190,608 NGN on the note payable. May 1 Sold entire inventory for 17,900,000 NGN on account. June 1 sold tand for 6,190 , eer NGN cash. Aug. 1 collected all accounts receivable. Sept. 1 Signed long-term note to receive 8,190,000 NGN cash. Oct. 1 Bought inventory for 20,190,000 NGN cash. Nov. 1 Bought land for 3,190,000 NGN on account. Dec. 1 Declared and paid 3,198,080 NGN cash dividend to parent. Dec. 31 Recorded depreciation for the entire year of 2,095,000 NGN. The U.S dollar (\$) exchange rates for 1 NGN are as follows: The US dollar (\$) exchange rates for 1 NGN are as follows: a. Assuming the NGN is the subsidlary's functional currency, what is the translation adjustment determined solely for 2020 ? b. Assuming the U.S.S is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for 2020