The following account balances are for the Agee Company as of January 1, 2015, and December 31, 2015. All figures are denominated in kroner (Kr).

Additional Information
• Agee issued additional shares of common stock during the year on April 1, 2015. Common stock at January 1, 2015, was sold at the start of operations in 2004.
• It purchased buildings in 2005 and sold one building with a book value of Kr 1,500 on July 1 of the current year.
• Equipment was acquired on April 1, 2015.
Relevant exchange rates for 1 Kr were as follows:
2004 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.90
2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.70
January 1, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.00
April 1, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.10
July 1, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.30
October 1, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.40
December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50
Average for 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.20
a. Assuming the U.S. dollar is the functional currency what is the remeasurement gain or loss for 2015?
b. Assuming the foreign currency is the functional currency what is the translation adjustment for 2015?

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December 31, 2015 (25,000) 104,000 (50,000) (7,500) (64,000) 105,000 10,500 (82,000) 40,000 57,000 64,000 (8,500) 21,500 (55,000) 45,000 (162,000) 7,000 Accounts payable . . Accounts receivable Accumulated depreciation-buildings January 1, 2015 (15,000) 54,000 (45,000) . . Bonds payable-due 2018 (64,000) 134,000 60,000 (69,000) Cash Co mmon stock Depreciation expense. . Gain on sale of building . .. Rent expense (55,000) Sales