Which of the following adjustments is required at year end for a forward contract when using the gross method? Question 3 options: a) The variable side of the forward contract is updated to the spot rate on the reporting date. b) The fixed side of the forward contract is updated to the spot rate on the reporting date. c) The variable side of the forward contract is updated to the forward rate on the reporting date. d) The fixed side of the forward contract is updated to the forward rate on the reporting date