On September 1, 2019, Change Corp. received an order for equipment from a foreign customer for 300,000 units of foreign currency when the U.S. dollar equivalent was $96,000. Change shipped the...

On September 1, 2019, Change Corp. received an order for equipment from a foreign customer for 300,000 units of foreign currency when the U.S. dollar equivalent was $96,000.

Change shipped the equipment on October 15, 2019, and billed the customer for 300,000 units of foreign currency when the U.S. dollar equivalent was $110,000. Change received the customer’s remittance in full on November 16, 2019, and sold the 300,000 foreign currency units for $105,000. In its income statement for the year ended December 31, 2019, Change should report a foreign exchange loss of

(a) $9,000

(b) $5,000

(c) $14,000

(d) $—0—