in January 1,20x1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment ost of Swiss francs (SFr) 71,000. SunTime's December 31, 20X1, trial balance in SFr is as follows: Additional Information 1. The recelvable from Popular Creek is denomanated in Swiss francs. Popular Creek's books show a 54,900 payable to SunTime 2 Purchases of inventory goods are made evenly during the year lterns in the ending inventory wete purchased November 1 3. Equipment is deprecioted by the straght-line method with a 10 -year life and no residual value A fuil years deprectation is taken in the year of acquisition. The equipment was acquired on March 1 4. The dividends were declated and paid on November 1. 5 Exchange rates weie as follows: 6. The-Swis frane is the functoonal curency Requited: - Prepare a froot of the llanslaton Adpustinent The Swiss franc is the functional currency. Required: o. Prepare a proof of the translation adjustment. b. Where is the translation adjustment reported on Popular Creek's consolidated financial statements and its foreign subsidiary? Complete this question by entering your answers in the tabs below. Prepare a proof of the transiation adjustment. in January 1,20x1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment ost of Swiss francs (SFr) 71,000. SunTime's December 31, 20X1, trial balance in SFr is as follows: Additional Information 1. The recelvable from Popular Creek is denomanated in Swiss francs. Popular Creek's books show a 54,900 payable to SunTime 2 Purchases of inventory goods are made evenly during the year lterns in the ending inventory wete purchased November 1 3. Equipment is deprecioted by the straght-line method with a 10 -year life and no residual value A fuil years deprectation is taken in the year of acquisition. The equipment was acquired on March 1 4. The dividends were declated and paid on November 1. 5 Exchange rates weie as follows: 6. The-Swis frane is the functoonal curency Requited: - Prepare a froot of the llanslaton Adpustinent The Swiss franc is the functional currency. Required: o. Prepare a proof of the translation adjustment. b. Where is the translation adjustment reported on Popular Creek's consolidated financial statements and its foreign subsidiary? Complete this question by entering your answers in the tabs below. Prepare a proof of the transiation adjustment