The following account balances are for the Agee Company as of January 1, 2015, and December 31, 2015. All figures are denominated in kroner (Kr).

January 1, 2015 December 31, 2015

Accounts payable (8,000) (16,500)

Accounts receivable 35,000 85,000

Accumulated depreciationbuildings (26,000) (31,000)

Accumulated depreciationequipment 0 (5,600)

Bonds payabledue 2018 (56,000) (56,000)

Buildings 115,000 95,500

Cash 41,000 8,600

Common stock (65,000) (80,000)

Depreciation expense 0 21,000

Dividends (10/1/15) 0 38,000

Equipment 0 36,000

Gain on sale of building 0 (6,600)

Rent expense 0 17,600

Retained earnings (36,000) (36,000)

Salary expense 0 26,000

Sales 0 (104,000)

Utilities expense 0 8,000

Additional Information

Agee issued additional shares of common stock during the year on April 1, 2015. Common stock at January 1, 2015, was sold at the start of operations in 2004.

It purchased buildings in 2005 and sold one building with a book value of Kr 14,500 on July 1 of the current year.

Equipment was acquired on April 1, 2015.

Relevant exchange rates for 1 Kr were as follows:

2004 $ 2.70

2005 2.50

January 1, 2015 2.80

April 1, 2015 2.90

July 1, 2015 3.10

October 1, 2015 3.20

December 31, 2015 3.30

Average for 2015 3.00

a. Assuming the U.S. dollar is the functional currency what is the remeasurement gain or loss for 2015?

b. Assuming the foregin currency is the functional currency what is the translation adjustment for 2015?