Vandelay Industries's financial statements for the year of $2018$ are as follows:

Additio

The common stock was issued in $2004$ when the exhange rate was $$1\mathrm{.}37$ per Euro.

Fixed assets were acquired in $2005$ when the exchange rate was $$1\mathrm{.}19$ per Euro.

Dividends were declared on April $1.$

The sale that gave rise to the gain on the income statement occurred on Sept. $1.$

As of January $1,2018,$ the Retained Earnings balance was translated as $$1,094,000.$

The US dollar per Euro exchange rates for $$1$ for $2018$ follow:

$\backslash$table$[[$January $1,$$$,1\mathrm{.}085],[$April $1,$$$,1\mathrm{.}137],[$September $1,$$$,1\mathrm{.}119],[$December $31,$$$,1\mathrm{.}063],[$Weighted average for the year,$$,1\mathrm{.}107]]$

Inventory was acquired evenly throughout the year.

Required

a$.$ Translate the foreign currency statements into U$.$S$.$ dollars and calculate the translation adjustment.

b$.$ Remeasure the foreign currency statements into U$.$S$.$ dollars and calculate the remeasurement gain or loss.