Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria, where the local currency unit is the naira (NGN). On December 31 , 2023, the subsidiary had the following balance sheet (amounts are in thousands [000s]): The subsidiary issued the common stock in 2015, and acquired the land and building in 2016. It acquired the inventory on August 1 , 2023. During 2024, the following transactions took place: The U.S dollar (\$) exchange rates for 1 NGN are as follows: Required: a. Assuming the NGN is the subsidiary's functional currency, what is the translation adjustment determined solely for 2024 ? b. Assuming the U.S. dollar is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for 2024 ? Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria, where the local currency unit is the naira (NGN). On December 31 , 2023, the subsidiary had the following balance sheet (amounts are in thousands [000s]): The subsidiary issued the common stock in 2015, and acquired the land and building in 2016. It acquired the inventory on August 1 , 2023. During 2024, the following transactions took place: The U.S dollar (\$) exchange rates for 1 NGN are as follows: Required: a. Assuming the NGN is the subsidiary's functional currency, what is the translation adjustment determined solely for 2024 ? b. Assuming the U.S. dollar is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for 2024