Develop Your Skills RESEARCH CASE 1-FOREIGN CURRENCY TRANSLATION AND HEDGING ACTIVITIES CPA Many companies make annual reports available on their corporate website, often under an Investors tab. Annual reports also can be accessed through the SEC's EDGAR system at www.sec.gov (under Filings. click Company Filings Search, type in Company Name, and under Filing Type, search for 10-K). skills Access the most recent annual report for a U.S.-based multinational company with which you are familiar to complete the following requirements. Required a. Identify the location(s) in the annual report that provides disclosures related to the translation of b. Determine whether the company's foreign operations have a predominant functional currency foreign currency financial statements and foreign currency hedging. Determine the amount of remeasurement gain or loss, if any, reported in net income in each of the three most recent years. c. d. Determine the amount of translation adjustment, if any, reported in other comprehensive income in each of the three most recent years. Explain the sign (positive or negative) of the translation adjust- ment in each of the three most recent years Determine whether the company hedges net investments in foreign operations. If so, determine the type(s) of hedging instrument used. e