BABA Corporation, a U.S. Company, formed a subsidiary with a new company in France on January 1, 2020, by investing 400,000 Euro in exchange for all of the subsidiarys common stock. On July 1, 2020, the subsidiary purchased land for 100,000 Euro and a building for 300,000 Euro. The building is being depreciated over a 40-year life by the straight-line method. The inventory is valued at historical cost. The Euro is the subsidiarys functional currency and its reporting currency. Exchange rates for the Euro on various dates were:

January 1, 2020 1 Euro = $1.51

July 1, 2020 1 Euro = $1.56

December 31, 2020 1 Euro = $1.53

2020average rate 1 Euro = $1.52

The subsidiarys adjusted trial balance shows the following balances:

Cash 100,000

Accounts receivable 60,000

Inventory 80,000

Land 100,000

Building 300,000

Accumulated depreciation 3,750

Accounts payable 84,000

Notes Payable 16,750

Common stock 400,000

Retained earnings 0

Sales revenue 443,000

Cost of goods sold 213,750

Depreciation expense 3,750

Other expenses 90,000

Instruction:

1- Translated the previous balances (round to the nearest dollar)

2- Calculate the Cumulative Translation-Adjustment