3: On January 1, 2018, Veldon Co., a U.S. corporation with the U.S. dollar as its functional currency, established Malont Co. as a subsidiary. Malont is located in the country of Sorania, and its functional currency is the stickle (S). Malont engaged in the following transactions during 2018: January 1, 2018 July 14, 2018 Issued common stock for $500,000 Sold a patent at a gain of $40,000 October 1, 2018 Paid dividends of $60,000 Malont's operating revenues and expenses for 2018 were $800,000 and 5650,000, respectively. The appropriate exchange rates were: January 1, 2018 July 14, 2018 October 1, 2018 51 $2.5 51 $2.1 1 = $2.6 December 31, 2018 $1-$2.7 Average for 2018 = 1 $2.4 Required: Calculate the translation adjustment for Malont. (Round your answers to the nearest whole dollar.)