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		(10,000	)		(21,500	)
Accounts receivable		33,000			83,000
Accumulated depreciationbuildings		(24,000	)		(29,000	)
Accumulated depreciationequipment		0			(5,400	)
Bonds payabledue 2020		(54,000	)		(54,000	)
Buildings		113,000			94,500
Cash		39,000			8,400
Common stock		(63,000	)		(76,000	)
Depreciation expense		0			19,000
Dividends (10/1/17)		0			36,000
Equipment		0			34,000
Gain on sale of building		0			(6,400	)
Rent expense		0			16,400
Retained earnings		(34,000	)		(34,000	)
Salary expense		0			24,000
Sales		0			(96,000	)
Utilities expense		0			7,000

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 13,500 on July 1 of the current year.

Equipment was acquired on April 1, 2017.

Relevant exchange rates for 1 Kr were as follows:

2010	$	2.60
2011		2.40
January 1, 2017		2.70
April 1, 2017		2.80
July 1, 2017		3.00
October 1, 2017		3.10
December 31, 2017		3.20
Average for 2017		2.90

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 $145,200, which included a remeasurement loss of $28,300.

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 $162,250, and a cumulative translation adjustment of $9,650 (credit balance).

a	remeasurement	gain or loss
b	translation adjustment	positive or negative