Assume instead that the foreign subsidiary's functional currency is JK. What amounts (in US$) should appear on ABC Inc.'s consolidated balance sheet for translation adjustment related to its foreign subsidiary?

Question 21 options:

	($3.56)
	($2.70)
	$2.70
	$3.56 show work

ABC Inc. starts a subsidiary in a foreign country on January 1, 2004. The foreign subsidiary reports the 12/31/04 trial balance below, expressed in the foreign currency (JK) 12/31/04 Trial Balance (J Cash Accounts receivable Building (purchased 2/1/04) Accumulated depreciation Building Interest payable Note payable (issued 1/1/04) Dividends paid (paid 10/1/04) Common stock (issued 1/1/04) Rent revenue Interest expense Depreciation expense Repair expense Total Debit 49 12 170 Credit 17 12 120 6 50 72 12 17 271 271 Exchange rate (per JK) 1/1/04 2/1/04 10/1/04 12/31/04 Average for 2004 $2.28 $2.13 $2.28 $2.22 $2.16