The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr).

Additional Information
ˆ™ Agee issued additional shares of common stock during the year on April 1, 2017. Common stock at January 1, 2017, was sold at the start of operations in 2010.
ˆ™ Agee purchased buildings in 2011 and sold one building with a book value of Kr 1,500 on July 1 of the current year.
ˆ™ Equipment was acquired on April 1, 2017.
Relevant exchange rates for 1 Kr were as follows:
2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.90
2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.70
January 1, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . 3.00
April 1, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.10
July 1, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.30
October 1, 2017 . . . . . . . . . . . . . . . . . . . . . . . . 3.40
December 31, 2017 . . . . . . . . . . . . . . . . . . . . . 3.50
Average for 2017 . . . . . . . . . . . . . . . . . . . . . . . 3.20
a. Assuming the U.S. dollar is the functional currency, what is the remeasurement gain or loss for 2017? The December 31, 2016, U.S. dollar-translated balance sheet reported retained earnings of $145,200, which included a remeasurement loss of $28,300.
b. Assuming the foreign currency is the functional currency, what is the translation adjustment for 2017? The December 31, 2016, U.S. dollar-translated balance sheet reported retained earnings of $162,250 and a cumulative translation adjustment of $9,650 (credit balance).

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January 1, 2017 December 31, 2017 Accounts payable Accounts recelvable (15,000) 54,000 (25,000) 104,000 (45,000) (50,000) Accumulated depreclation-equipment Bonds payable-due 2020 bunk Cash Common stock (64,000) 134,000 60,000 (69,000) (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 Dividends (10/1/17) Equipment Galn on sale of building Rent expense 0 0 (55,000) Salary expense Sales Utilitles expense 0