The following account balances are for the Agee Company as of January 1, 2020, and December 31, 2020. All amounts are denominated in kroner (Kr). January 1, 2020 December 31, 2020 Accounts payable (13,000 ) (29,000 ) Accounts receivable 30,000 80,000 Accumulated depreciationbuildings (21,000 ) (26,000 ) Accumulated depreciationequipment 0 (5,100 ) Bonds payabledue 2023 (51,000 ) (51,000 ) Buildings 110,000 93,000 Cash 36,000 8,100 Common stock (60,000 ) (70,000 ) Depreciation expense 0 16,000 Dividends (10/1/20) 0 33,000 Equipment 0 31,000 Gain on sale of building 0 (6,100 ) Rent expense 0 14,600 Retained earnings (31,000 ) (31,000 ) Salary expense 0 21,000 Sales 0 (84,000 ) Utilities expense 0 5,500 Additional Information Agee issued additional shares of common stock during the year on April 1, 2020. Common stock at January 1, 2020, was sold at the start of operations in 2013. Agee purchased buildings in 2014 and sold one building with a book value of Kr 11,100 on July 1 of the current year. Equipment was acquired on April 1, 2020. Relevant exchange rates for 1 Kr were as follows: 2013 $ 2.45 2014 2.25 January 1, 2020 2.55 April 1, 2020 2.65 July 1, 2020 2.85 October 1, 2020 2.95 December 31, 2020 3.05 Average for 2020 2.75 Assuming the U.S. dollar is the functional currency, what is the remeasurement gain or loss for 2020? The December 31, 2019, U.S. dollar-translated balance sheet reported retained earnings of $58,350, which included a remeasurement loss of $12,250. Assuming the foreign currency is the functional currency, what is the translation adjustment for 2020? The December 31, 2019, U.S. dollar-translated balance sheet reported retained earnings of $82,500 and a cumulative translation adjustment of $2,550 (credit balance).