Spindler, Inc. $($a U$.$S$.-$based company$),$ imports surfboards from a supplier in Brazil and sells them in the United States. Purchases are denominated in terms of the Brazilian real $($BRL$).$ During $2020,$ Spindler acquires $270$ surfboards at a price of BRL $1,600$ per surfboard, for a total of BRL $432,000\mathrm{.}00.$ Spindler will pay for the surfboards when it sells them. Relevant exchange rates are as follows:

$$

DateU.S$.$ Dollar per

Brazilian Real $($BRL$)$September $1,2020$$$0\mathrm{.}200$December $1,20200\mathrm{.}190$December $31,20200\mathrm{.}210$March $1,20210\mathrm{.}195$

$$

Assume that Spindler acquired the surfboards on September $1,2020,$ and made payment on December $1,2020.$ What is the effect of the exchange rate fluctuations on reported income in $2020?$

Assume that Spindler acquired the surfboards on December $1,2020,$ and made payment on March $1,2021.$ What is the effect of the exchange rate fluctuations on reported income in $2020$ and $2021?$

Assume that Spindler acquired the surfboards on September $1,2020,$ and made payment on March $1,2021.$ What is the effect of the exchange rate fluctuations on reported income in $2020$ and in $2021?$