At December $31,20$X$1,$ it took $19\mathrm{.}66$ pesos to buy one U$.$S$.$ dollar. At December $31,20$X$2,$ it took only $19\mathrm{.}50$ pesos to buy one U$.$S$.$ dollar because the peso had strengthened during the year. None of the amounts on Wick$$s subsidiary$$s balance sheet deviated substantially from the December $31,20$X$1,$ amounts during the year.

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Required:

If the subsidiary$$s financial statements are translated under the current rate 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?

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?

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