Rolfe Company $($a U$.$S$.-$based company$)$ has a subsidiary In NIgerla, where the local currency unit is the nalra $($NGN$).$ On December $31$

$2023,$ the subsidlary had the following balance sheet $($amounts are in thousands $[$O$00$s$)$

The subsidlary Issued the common stock In $2015,$ and acqulred the land and bullding In $2016.$ It acqulred the Invenlsy on August $1,$

$2023.$ During $2024,$ the following transactions took place:

Cash

NGN $16,240$ Notes payable

NGN $20,180$

Inventory

$10,900$

Common stock

$21,000$

Land

$4,090$ Retained earnings

$16,500$

Building

$40,900$

Accumulated depreciation

$(20,450$

NGN $51,680$

NGN $51,680$

$2024$

February

N

May

June $1$

August $1$

Septerber $1$

October I

Noverber $1$

Decerber $1$

December $31$

The U$.$S dollar $($$$)$ exchange rates for $1$ NGN are as follows

Requlred:

a$.$ Assuming the NGN is the subsidiary's functional currency, what Is the translatlon adjustment determIned solely for $2024?$

b$.$ AssumIng the U$.$S$.$ dollar is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for $2024?$

Note: Input all amounts as positive. Enter amounts In whole dollars,

Positive

Remeasurement gain

translation adjustment

$2015$

NGN$1=$ $ $6\mathrm{.}0057$

$2016$

NGN $1=00051$

August $1,2023$

NGN $1=0\mathrm{.}0071$

December $31,2023$

NGN $1$

$0\mathrm{.}0073$

D $0675$

February

$2024$

NGN $1$

May

$2024$

NGN $1$

$0\mathrm{.}0077$

June

$2024$

NGN I

$"$

$0\mathrm{.}0079$

August $1,2024$

NGN $1$

$0\mathrm{.}0083$

September $1,2024$

NGN $$

$0\mathrm{.}0085$

E

October

$2024$

NGN $1$

$0\mathrm{.}0087$

November $1,2024$

NGN $1$

$0\mathrm{.}0089$

December $1,2024$

NGN

r

S $0091$

December $31,2024$

NGN $1$

$0.0102$

Average for $2024$

NGN $1$

$=$

$0\mathrm{.}0092$

Paid $8,090,000$ NGN on the note payable

Sold entire inventory for $16,900,000$ NGN on account

Sold land for $6,090,000$ NGN cash

Collected all accounts receivable

Signed long$-$term note to receive $8,990,900$ NGN cash

Bought inventory for $20,090,000$ NGN cash

Bought land for $3,090,000$ NGN on account

Declared and paid $3,090,000$ NGN cash dividend to parent

Recorded depreciation for the entire year of $2,045,000$ NGN$.$