Boerkian Co. started 2021 with two assets: Cash of $26,000 (Stickles) and Land that originally cost $72,000 when acquired on April 4, 2018. On May 1, 2021, the company rendered services to a customer for $36,000, an amount immediately paid in cash. On October 1, 2021, the company incurred an operating expense of $22,000 that was immediately paid. No other transactions occurred during the year so an average exchange rate is not necessary. Currency exchange rates were as follows: April 4, 2018 January 1, 2021 May 1, 2021 October 1, 2021 December 31, 2021 S1 = $0.28 S1 = $0.29 S1 = $0.30 S1 = $0.31 S1 = $0.35 Assume that Boerkian was a foreign subsidiary of a U.S. multinational company and the stickle ($) was the functional currency of the subsidiary. Calculate the translation adjustment for this subsidiary for 2021 and state whether this is a positive or a negative adjustment. Short Answer Toolbar navigation U A Ra Ks