Use the following information for questions 1 and 2 : On January 1, 2023, Perfect Corporation (a U.S. company) paid Euro 300,000 to acquire all of the common stock of Snow Company, a German enterprise. There was no revaluation for this acquisition. During 2023, Snow purchased Euro 200,000 of inventories. Ending inventory items (FIFO cost) were purchased when the exchange was Euro 1 = US\$1.22. Snow's equipment was purchased in 2015. Merchandise purchases, sales and other expenses occurred evenly over the year. Snow declared and paid dividends of Euro 30,000 on December 17, 2023. Exchange rates were as follows: The exchange rate on January 1, 2023, was Euro 1= US $1.20 The exchange rate on May 1, 2023, was Euro 1= US $1.25 The exchange rate on December 17, 2023, was Euro 1= US $1.18 The exchange rate on December 31, 2023, was Euro 1= US $1.23 Average exchange rate for 2023 was Euro 1 = US $1.21 The functional currency of Snow was the US dollar. Remeasurement/translation of financial statements to U.S. Dollars. for the vear ended December 31, 2023 (a) Determine the remeasurement gain or loss/translation adjustment for 2023 by analyzing changes in exposed positions. You must show your calculations to receive credit. (b) Complete the above table for the remeasurement/translation of Snow's financial statement into U.S. dollars