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, 201 Accounts payable 54,000 104,000 7,500) Bonds payoble-due 2020 64,000 10.500 82.000 Common stock Dividends(10/1/17) Gain on sale of building 64,000 8500 21,500 162.000 Additional Information Agee issued additional shares of common stock during the year on April 1, 2017. Common stock at January1 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 1,500 on July 1 of the current year Equipment was acquired on April 1, 2017 Relevant exchange rates for 1 Kr were as follows 2011 January 1, 2017 Apr 1, 2017 Juy 1, 2017 October 1, 2017 December 31, 2017 $290 270 3.00 3 10 3.30 3.40 350 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 $145,200, which included a remeasurement loss of $28,300 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 $162,250 and a cumulative translation adjustment of $9,650 (credit balance)