Watson Company has a subsidiary in the country of Alonza where the local currency unit is the kamel (KM). On December 31, 2010, the subsidiary has the following balance sheet: The subsidiary acquired the inventory on August 1, 2010, and the land and buildings in 2000. It issued the common stock in 1998. During 2011, the following transactions took place: The exchange rates for 1 KM are as follows: a. If this is a translation, what is the translation adjustment determined solely for 2011? b. If this is a remeasurement, what is the remeasurement gain or loss determined solely for 2011?
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