Refer to the information in question 52. Assume the U.S. dollar is the functional currency, not the pound. Prepare a schedule providing a proof of the remeasurement gain or loss. Assume that the British subsidiary had the following monetary assets and liabilities at January 1, 2008: 
Definitions:
Aggregate Demand
The total quantity of goods and services demanded across all levels of an economy at a given price level and in a given time period.
Potential Output
The peak level of real GDP that can be maintained in the long run without causing inflation to rise.
Discretionary Fiscal Policy
Government policy involving changes in taxation and spending that are undertaken explicitly to influence economic activity.
Price Level
The econ-wide median price across the complete array of produced goods and services.
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