On April 1, 20X6, EXP Inc. borrowed €550,000 from a European bank. Interest is payable at the rate of 6% on March 31 each year. EXP's fiscal year end is December 31. Relevant exchange rate information follows: April 1, 20X6 €1 = C$1.33 December 31, 20X6 €1 = C$1.45 Average for 20X6 (April to December) €1 = C$1.38 What is the amount of foreign exchange loss to be reported on the statement of comprehensive income (SCI) of EXP for the year ended December 31, 20X6, related to the loan and loan interest? a) $64,267.50 loss
b) $66,000.00 loss
c) $67,732.50 loss
d) $68,310.00 loss

Pell company acquires 80% of demers company for $500,000 on january 1, 2014. demers reported common stock of $300,000 and retained earnings of $210,000 on that date. equipment was undervalued by $30,000 and buildings were undervalued by $40,000, each having a 10-year remaining life. any excess consideration transferred over fair value was attributed to goodwill with an indefinite life. based on an annual review, goodwill has not been impaired. demers earns income and pays dividends as follows: picture assume the partial equity method is applied. how much does pell record as income from demers for the year ended december 31, 2015?