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is the sticke (ST) Malont engaged in the following transactions during 2023 . January 5, 2023 Issued additional common stock for 5T 500,000 July 14,
is the sticke (ST) Malont engaged in the following transactions during 2023 . January 5, 2023 Issued additional common stock for 5T 500,000 July 14, 2023 Sold land at a loss of ST 40,000, The sales price was ST 20,000 and the book value was ST 60,000 . October 1.2023 Declared and paid dividends of ST 60.000 Jan 1-Dec 31, 2023 The total sales revenue for the year was 5T T 800,000 . The total revenue was from both credit sales (60\%) and cash sales (40%). Jan 1-Dee 31,2023 The total operating expenses for the year was ST 650,000. All expenses were paid in cash. None of these expenses was for depreciation of long-term assets: At the beginning of 2023, Malont had ST 420,000 in total assets and ST 70,000 in total liabilities. The appropriate exchange rates were: \begin{tabular}{|c|c|} \hline January 1,2023 & 1ST=$2.5 \\ \hline January 5,2023 & 1ST=$2.4 \\ \hline July 14,2023 & 1ST=$2.1 \\ \hline October 1.2023 & 1ST=$2.6 \\ \hline December 31,2023 & 1ST=$2.7 \\ \hline verag & ST=$2.4 \\ \hline \end{tabular} Required: 1. (15 points) Calculate the translation adjustment for Malont using the current rate method. Show supporting calculations to obtain credit. 2. (3 points) Determine whether a positive or negative adjustment should be made and where this adjustment should be reported
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