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

Statement of Retained Earnings

Retained earnings, $\frac{1}{1}\frac{?}{18}$

Net Income

Less: Dividends

Retained earnings, $12/31/18$

Balance Sheet

Assets

Cash

Receivables

Inventory

Fixed assets $($net$)$

Total assets

Liabilities and Equity

Liabilities

Common Stock

Retained earnings, $12/31/18$

Total Liabilities and Equity

Additional Information

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:

January $1$

April $1$

September $1$

December $31$

Weighted average for the year

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.