The Total exchange gain/loss that is reported in the income statement of Bayan Pic Company for year ended 31 December 2010 is? The information below is for questions 8 to 13 Round to the nearest ONE Bayan plc is a Kuwaiti-based Company which has the KD as its functional currency. The company has the following transactions in USD during the year to 31 December 2010 - the financial years is from 1 January- 31 December 1 October 2010- Inventory costing 50.000 USD purchased on credit from Y 1 November 2010- Equipment costing 200,000 USD purchased on credit from X and signed a note payable 30 November 2010-Paid Y 30,000 USD on account for the inventory bought on 1 October 15 December 2010- Paid X 150,000 USD for the equipment purchased on 1 November Exchange rates may be assumed as follows: 1 October 2010- 1 KD= 1.2 USD 1 November 2010- 1 KD = 1.12 USD 30 November 2010- 1 KD= 1.0 USD 15 December 2010- 1 KD= 0.96 USD 31 December 2010-1 KD = 0.88 USD