ROS Inc. is located in Switzerland. ROS, whose currency is the Swiss franc $($SF$),$ is wholly owned by CRO Ltd$.,$ a Canadian company with a functional and presentation currency of the Canadian dollar. ROS's functional currency is the SF$.$ The summarized balance sheet for ROS at December $31,2019,$ was as follows:

Monetary assets SF $100,000$

Non$-$monetary assets $200,000$

total assets SF $300,000$

Monetary liabilities SF $190,000$

Non$-$monetary liabilities $30,000$

Shareholders$$ equity $80,000$

total liablities and equity SF $300,000$

None of the non$-$monetary assets or liabilities are reported at market value.

What is the exchange gain or loss in Canadian dollars for ROS on January $1,2020,$ if the exchange rate changes from SF $1=$ C$$1\mathrm{.}50$ to SF $1=$ C$$1\mathrm{.}52$ and this is the only event affecting ROS for that day?

a$.$

Foreign exchange gain of $$1,600$ which will be reflected in Other Comprehensive Income.

b$.$

Foreign exchange loss of $$1,600$ which will be reflected in Other Comprehensive Income.

c$.$

Foreign exchange gain of $$1,600$ which will be reflected in net income