Matthias Corp. had the following foreign currency transactions during 2017:

Purchased merchandise from a foreign supplier on January 20 for the U. S. dollar equivalent of $62,900 and paid the invoice on April 20 at the U. S. dollar equivalent of $53,200.
On September 1, borrowed the U. S. dollar equivalent of $305,000 evidenced by a note that is payable in the lender's local currency in one year. On December 31, the U. S. dollar equivalent of the principal amount was $322,000.

Required:
In Matthias's 2017 income statement, what amount should be included as a net foreign exchange gain or loss?

This activity is important because as a marketing manager, you must allocate resources to reach your target market. during the strategic marketing process, managers move through three important phases to determine how to optimally allocate resources: a planning phase, an implementation phase, and an evaluation phase. in this interactive exercise, you are asked to review various strategic marketing actions and determine where in the strategic marketing process the action would occur. the goal of this exercise is to demonstrate your understanding of the strategic marketing process and related marketing actions.