On January $1,20$X$1,$ Prime Company purchased all the outstanding stock of Spring Company, located in Canada, for

$$137,700.$ On January $1,20$X$1,$ the direct exchange rate for the Canadian dollar $($C$$)$ was C$$1=$ $$0\mathrm{.}81.$ Spring's book

value on January $1,20$X$1,$ was C$$96,000.$ On January $1,20$X$1,$ the book value of the Spring's identifiable assets and liabilities approximated their fair values except for property, plant, and equipment. The remaining useful life of Spring's property, plant and equipment at January $1,20$X$1,$ was $10$ years.

During $20$X$1,$ Spring earned C$$24,000$ in income and declared and paid C$$7,400$ in dividends. The dividends were

declared and paid in Canadian dollars when the exchange rate was C$$1=$ $$0\mathrm{.}75.$ On December $31,20$X$1,$ Prime

continues to hold the Canadian currency received from the dividend. On December $31,20$X$1,$ the direct exchange

rate is C$$1=$ $$0\mathrm{.}64.$ The average exchange rate during $20$X$1$ was C$$1=$ $$0\mathrm{.}76.$ Management has determined that

the Canadian dollar is Spring's appropriate functional currency.

In the stockholders' equity section of Prime's consolidated balance sheet at December $31,20$X$1,$ Prime should report the translation adjustment as a component of other comprehensive income of

A$-$$$18,300$ negative

B$-$ $$30,078$ negative

C$-$ $$24,392$ negative

D$-$ $$11,672$ positive