Gale Company was formed on January $1,2024,$ as a wholly owned foreign subsidiary of a U$.$S$.$ corporation. Gale$$s functional currency was the stickle $().$ The following transactions and events occurred during $2024$:

January $1$ Gale issued common stock for $2,000,000.$

June $30$ Gale paid dividends of $50,000.$

December $31$ Gale reported net income of $120,000$ for the year.

Exchange rates for $2024$ were:

January $1$ $ $1=0\mathrm{.}50$

June $30$ $ $1=0\mathrm{.}47$

December $31$ $ $1=0\mathrm{.}44$

Weighted average rate for the year $ $1=0\mathrm{.}46$

What was the amount of the translation adjustment for $2024?$

Multiple Choice

$$121,500$ positive translation adjustment

$$121,500$ negative translation adjustment

$$120,900$ positive translation adjustment

$$120,900$ negative translation adjustment

$$152,200$ positive translation adjustment