REFERENCE: Ref.09_03 Car Corp.(a U.S.-Based Company)sold Parts to a Korean Customer on Customer

Multiple Choice

REFERENCE: Ref.09_03
Car Corp.(a U.S.-based company) sold parts to a Korean customer on December 16,2008,with payment of 10 million Korean won to be received on January 15,2009.The following exchange rates applied:
SHAPE \* MERGEFORMAT

-Assuming a forward contract was entered into on December 16,what would be the net impact on Car Corp.'s 2009 income statement related to this transaction?

A) $ 500 (gain) .
B) $ 100 (loss) .
C) $ 200 (gain) .
D) $ 200 (loss) .
E) $0.