Use the following information to answer questions 3 and 4: A U.S. parent owns all of the stock of an Italian subsidiary. The subsidiary's January 1 and December 31, 2017 trial balances are as follows, in euros: Sales, purchases, and recurring out of pocket expenses occurred evenly throughout the year. Exchange rates ($/elementof) are: Assume the subsidiary's functional currency is the euro. What is the translation gain or loss for 2017? a. $128,000 loss b $134,000 loss c. $128,000 gain. d. $134,000 gain Assume the subsidiary's functional currency is the U.S. dollar. What is the remeasurement gain or loss for 2017? a. $162,000 loss b. 30,000 loss c. $162,000 gain d. $30,000 gain Use the following information to answer questions 3 and 4: A U.S. parent owns all of the stock of an Italian subsidiary. The subsidiary's January 1 and December 31, 2017 trial balances are as follows, in euros: Sales, purchases, and recurring out of pocket expenses occurred evenly throughout the year. Exchange rates ($/elementof) are: Assume the subsidiary's functional currency is the euro. What is the translation gain or loss for 2017? a. $128,000 loss b $134,000 loss c. $128,000 gain. d. $134,000 gain Assume the subsidiary's functional currency is the U.S. dollar. What is the remeasurement gain or loss for 2017? a. $162,000 loss b. 30,000 loss c. $162,000 gain d. $30,000 gain