McNeil, a U.S. corporation, bought inventory items from a supplier in Denmark on November 5, 2019, for 100,000 krones, when the spot rate was $.4395. At McNeil’s December 31, 2019, year-end, the spot...

McNeil, a U.S. corporation, bought inventory items from a supplier in Denmark on November 5, 2019, for 100,000 krones, when the spot rate was $.4395. At McNeil’s December 31, 2019, year-end, the spot rate was $.4345. On January 15, 2020, McNeil bought 100,000 krones at the spot rate of $.4445 and paid the invoice. How much should McNeil report in its income statement for 2019 and 2020 as transaction gain or loss?