Sale Domination

If a U.S. company exports to Canada and the sale is denominated in Canadian dollars, which of the following statements is TRUE?

Answer
The U.S. company would report a gain if the U.S. dollar rises against the Canadian dollar.
The Canadian company would report a gain if the Canadian dollar falls against the U.S. dollar.
The U.S. company would report a loss if the Canadian dollar falls against the U.S. dollar.
Exports do not result in a gain or loss.