Park Co.'s wholly-owned subsidiary, Schnell Corp., maintains its accounting records in pounds sterling. Because all of Schnell's branch offices are in Germany, its functional currency is the Euro. Remeasurement of Schnell's 20X8 financial statements resulted in a $7,600 gain, and translation of its financial statements resulted in an $8,100 gain. What amount should Park report as a foreign exchange gain in its income statement for the year ended December 31, 20X8?
A.
$-0-
B.
$7,600
C.
$8,100
D.
$15,700