On December 18, 2011, Stephanie Corporation acquired 100 percent of a Swiss company for 3.7 million Swiss francs (CHF), which is indicative of fair value. At the acquisition date, the exchange rate was $0.70 = CHF 1. On December 18, 2011, the fair values of the subsidiarys assets and liabilities were: Cash CHF 500,000 Inventory 1,000,000 Fixed assets 3,000,000 Notes payable (800,000) Stephanie prepares consolidated financial statements on December 31, 2011. By that date, the Swiss franc has appreciated to $0.75 = CHF 1. Because of the year-end holidays, no transactions took place prior to consolidation. Determine the translation adjustment to be reported on Stephanies December 31, 2011, consolidated balance sheet, assuming that the Swiss franc is the Swiss subsidiarys functional currency. Cash: $ Inventory: Fixed assets: Total assets: Notes payable: Owners equity: Translation adjustment: Total liabilities and owners' equity