Wick Corporation has a Mexican subsidiary that had the following balance sheet at December 31, 20X1 (stated in millions of pesos) (millions of pesos) Cash 300 Accounts receivable 125 Inventory 400 Property and equipment 1.950 Total assets 2,775 Accounts payable Long term det 1,200 Common equity Total abilities and equity 2,775 At December 31, 20X1. it took 19.66 pesos to buy one US dollar At December 31, 20x2. it took only 19.50 pesos to buy one US dollar because the peso had strengthened during the year. None of the amounts on Wick's subsidiary's balance sheet deviated subutantially from the December 31, 20X1. amounts during the year Required: 1. If the subsidiary's financial statements are translated under the current rate method will there be a gain or loss related to translation 2. If the subsidiary's financial statements are remeasured under the temporal method, will there be a gain or loss related to translation adjustments and will it be recognized in net income or in other comprehensive income? Not Ansatiability Galo Methods Current rate Temporal Gain Recognized Other Comprehensive Income et income