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). buildings equipment January 1, 2015 (11,000) 32,000 (23,000) (53,000) 112,000 38,000 (62,000) 0 Accounts payable Accounts receivable Accumulated depreciation Accumulated depreciation Bonds payable due 2018 Buildings Cash Common stock Depreciation expense Dividends (10/1/15) Equipment Gain on sale of building Rent expense Retained earings Salary expense Sales Utilities expense December 31, 2015 (24,000) 82.000 (28,000) (5,300) (53,000) 94,000 8,300 (74,000) 18,000 35,000 33,000 (6,300) 15,800 (33,000) 23.000 (92,000) 6,500 (33,000) 0 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 13,000 on July 1 of the current year. Equipment was acquired on April 1, 2015. Relevant exchange rates for 1 Kr were as follows: 2004 2005 January 1, 2015 April 1, 2015 July 1, 2015 October 1, 2015 December 31, 2015 Average for 2015 $2.55 2.35 2.65 2.75 2.95 3.05 3.15 2.85 a. Assuming the U.S. dollar is the functional currency what is the remeasurement gain or loss for 2015? Remeasurement gain b. Assuming the foreign currency is the functional currency what is the translation adjustment for 2015? Translation adjustment positive