On December $18,2024,$ Stephkado Corporation acquired $100$ percent of a Swiss company for $4\mathrm{.}020$ million Swiss francs $($CHF$),$ which Is indicative of book and fair value. At the acquisition date, the exchange rate was $\backslash (\backslash$$ $1\mathrm{.}00=\backslash$mathrm$\{$CHF$\}1\backslash ).$ On December $18,2024,$ the book and falr values of the subsidiary's assets and liabilitles were as follows: Stephkado prepares consolidated financlal statements on December $31,2024.$ By that date, the Swiss franc has appreclated to $\backslash (\backslash$$ $1\mathrm{.}10=\backslash )$ CHF $1.$ Because of the year$-$end holidays, no transactions took place prior to consolidation. Property, plant, and equipment is depreclated using a units$-$of$-$production method, so no depreclation is required from December $18$ to December $31.$ The Swiss subsidlary has no revenues and no expenses from December $18$ to December $31,$ and its book value is unchanged from December $18$ to December $31.$ Required: a$.$ Determine the translation adjustment to be reported on Stephkado's December $31,2024,$ consolidated balance sheet, assuming that the SwIss franc is the Swiss subsidiary's functional currency. What is the economic relevance of this translation adjustment? b$.$ Determine the remeasurement gain or loss to be reported in Stephkado's $2024$ consolidated net Income, assuming that the U$.$S$.$ dollar is the functional currency. What is the economic relevance of this remeasurement gain or loss? Answer is complete but not entirely correct.