Darron Co. was formed on January 1, 2011 as a wholly owned foreign subsidiary of a U.S. corporation. Darron's functional currency was the stickle (). The following transactions and events occurred during 2011:THE ANSWER IS ALREADY THERE, PLEASE SHOW YOUR WORK

Darron Co. was formed on January 1, 2011 as a wholly owned foreign subsidiary of a U.S. corporation. Darron's functional currency was the stickle (S). The following transactions and events occurred during 2011: Darron issued common stock for $1,000,000 Jan. 1 Darron paid dividends of $20,000 June 30 Darron reported net income of $80,000 for the year Dec. 31 Exchange rates for 2011 were 48 Jan. June 30 42 Dec. 31 Weighted average rate for the year What was the amount of the translation adjustment for 2011? A. $293,479 increase in relative value of net assets B. $302,137 increase in relative value of net assets C. $300,160 increase in relative value of net assets. D. $187,418 increase in relative value of net assets. E. $270,800 increase in relative value of net assets