The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr).

January 1, 2017 December 31, 2017 Accounts payable (14, 000) (22,000) Accounts receivable 40, 090 90, 000 Accumulated depreciation-buildings (31, 000) (36, 000) Accumulated depreciation-equipment (6,100) Bonds payable-due 2020 (50,000) (50,000 Buildings 120, 900 98, 000 Cash 46,000 9,100 Common stock (70,000) (83, 000) Depreciation expense 26,000 Dividends (10/1/17) 43, 000 Equipment 41, 000 Gain on sale of building (7, 100) Rent expense 15, 100 Retained earnings (41, 000) 41, 000) Salary expense 31, 090 Sales (113,000) Utilities expense 5,000 Additional Information . Agee issued additional shares of common stock during the year on April 1, 2017. Common stock at January 1, 2017, was sold at the start of operations in 2010. . Agee purchased buildings in 2011 and sold one building with a book value of Kr 7,100 on July 1 of the current year. Equipment was acquired on April 1, 2017. Relevant exchange rates for 1 Kr were as follows: 2010 $ 2.95 2011 2.75 January 1, 2017 3.05 April 1, 2017 3.15 July 1, 2017 3.35 October 1, 2017 3.45 December 31, 2017 3.55 Average for 2017 3.25 a. Assuming the U.S. dollar is the functional currency, what is the remeasurement gain or loss for 2017? The December 31, 2016, U.S. dollar-translated balance sheet reported retained earnings of $105,350, which included a remeasurement loss of $12,750 b. Assuming the foreign currency is the functional currency, what is the translation adjustment for 2017? The December 31, 2016, U.S. dollar-translated balance sheet reported retained earnings of $107,500, and a cumulative translation adjustment of $24,550 (credit balance)