On January 1, 2020, a Hong Kong Subsidiary Was Acquired

On January 1, 2020, a Hong Kong subsidiary was acquired by a U.S. company. The subsidiary's trial balances for the beginning and end of 2020 appear below, in Hong Kong dollars (HK$):
$\begin{array}{|l|c|c|}\hline& \text { January 1, 2020 } & \text { December 31, 2020 } \\&\operatorname{Dr}(\mathrm{Cr}) & \operatorname{Dr}(\mathrm{Cr})\\\hline \text { Cash and receivables } & \text { HK\$ } 2,000 & \text { HK\$ } 1,600 \\\hline \text { Plant assets, net } & 10,000 & 9,000 \\\hline \text { Liabilities } & (9,000) & (7,100) \\\hline \text { Capital stock } & (500) & (500)\\\hline \text { Retained earnings, beginning } & (2,500) & (2,500) \\\hline \text { Sales revenue } & & (8,000) \\\hline \text { Depreciation expense } & & 1,000 \\\hline \text { Other operating expenses } & & 6,500 \\\hline & \text { HK\$}\quad0 & \text { HK\$ }\quad 0 \\\hline\end{array}$
Sales revenue and other operating expenses occurred evenly during 2020. Exchange rates (U.S. dollars/HK$) are as follows:
$$\begin{array} { l r } \text { January 1, 2020 } & \$ 0.120 \\\text { Average for 2020 } & 0.130 \\\text { December 31, 2020 } & 0.136\end{array}$$ Required
Required
a. The subsidiary's functional currency is the Hong Kong dollar. Calculate the translation gain or loss for 2020. Specify whether it is a gain or loss.
b. The subsidiary's functional currency is the U.S. dollar. Calculate the remeasurement gain or loss for 2020. Specify whether it is a gain or loss.