XMX India is the Indian subsidiary of ABC, a British multinational. ABCs reporting currency is the British pound. XMX Indias balance sheet on 31 December 2020 is shown in the table below. The exchange rate between the Indian rupee and the British pound was 102.50 rupees per pound on 31 December 2020 and 112.75 rupees per pound on 31 March 2021. Assume that the rupee values of all entries in XMX Indias balance sheet did not change between 31 December 2020 and 31 March 2021. Assets Value in Rupees Cash 307,500,000 Accounts receivable 615,000,000 Inventory 922,500,000 Net plant and equipment 1,230,000,000 Total 3,075,000,000 Liabilities and Net Worth Accounts payable 256,250,000 Short-term debt 666,250,000 Long-term debt 563,750,000 Invested capital 1,588,750,000 Total 3,075,000,000

If ABC uses the current rate method for compiling its consolidated balance sheet, did it make a gain or incur a loss from its translation exposure to XMX India between 31 December 2020 and 31 March 2021? Compute the pound value of ABCs translation gain or loss?

If ABC uses the temporal method for compiling its consolidated balance sheet, did it make a gain or incur a loss from its translation exposure to XMX India between 31 December 2020 and 31 March 2021? Compute the pound value of ABCs translation gain or loss?