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SG Company purchases 80,000 US dollars under a forward contract dated November 1, 2016, for delivery on January 31, 2017. The following are the direct
SG Company purchases 80,000 US dollars under a forward contract dated November 1, 2016, for delivery on January 31, 2017. The following are the direct exchange rates of a US dollar: 11/01/2016 12/31/2016 01/31/2017 Spot rates 45.75 44.90 44.50 30-day forward rate 44.30 46.15 43.20 60-day forward rate 47.65 44.30 45.75 90-day forward rate 45.25 45.45 44.10 If the forward contract is a hedge of an import transaction of $80,000 dated November 1, 2016, payable on January 31, 2017, how much forex gain(loss) should the company report on its December 31, 2016 statement of comprehensive income
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