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 (20,e00) 49,000 (40,000) December 31, 2017 (25,500) 99,e00 (45,000) Accounts payable Accounts receivable Accumulated depreciation-buildings Bond n-equipment (59.8ea) (59,000) Buildings 102,500 10,000 (75, 000) 35,000 52,000 50,ee0 (8,000) 19,500 129,000 55,000 (64,000) Cash Common stock Depreciation expense Dividends (10/1/17) Equipment Gain on sale of building Rent expense (50,ee0) ngs 40,000 Salary expense Sales (148,000) 9,500 Utilities expense 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 21,500 on July 1 of the current year. Equipment was acquired on April 1, 2017. Relevant exchange rates for 1 Kr were as follows: $ 2,65 2010 2011 2.45 January 1, 2017 April 1, 2017 July 1, 2017 2,75 2.85 3.05 Relevant exchange rates for 1 Kr were as follows: 2010 $2.65 2.45 2011 January 1, 2017 April 1, 2017 July 1, 2017 October 1, 2017 2.75 2.85 3.05 2017 2.95 Average for 2017 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). (Input all answers as positive.) Remeasurement a Translation adjustment