Question: Problem 2: Use the following information for the next five questions: ABC Co. expects the value of yens to decrease in the next 30 days.

Problem 2: Use the following information for the next five questions: ABC Co. expects the value of yens to decrease in the next 30 days. Accordingly, an December 15, 20x1, ABC Co, enters into a 30-day forward contract to sell 4,000.000 yens at the forward rate of P0.47. On December 31 . 20x, the forward rate was P0.485 and by January 15. 20x2, the spot rate moved to P0.46. 1. How much is the gain (loss) on change in fair value of the derivative on December 31,20x18 2. The derivative asset (liability) to be included in the December 31, 20x| statement of financial position is. 3. How much is the gain (loss) on change in fair value of the derivative on January 15,2022

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