On January $1,20$X$5,$ Pirate Company acquired all of the outstanding stock of Ship Incorporated, a Norwegian company, at a cost of

$$169\mathrm{.}200.$ Ship's net assets on the date of acquisition were $790,000$ kroner $($NKr$).$ On January $1,20$ K$5,$ the book and fair values of the

Norwegian subsidiary's identifiable assets and liabilities approximated their fair values except for property. plant, and equipment and

patents acquired. The fair value of Ship's property, plant, and equipment exceeded its book value by $$18,000.$ The remaining useful life

of Ship's equipment at January $1,20$X$5,$ was $10$ years. The remainder of the differential was attributable to a patent having an

estimated useful life of $5$ years. Ship's trial balance on December $31,205,$ in kroner, follows:

Addltional Informatlon:

was acquired on December $15,205.$ Purchases of $NKr420,000$ were made evenly throughout $205.$

Ship acquired all of its property, plant, and equipment on July $1,203,$ and uses straight$-$line depreciation.

Ship's sales were made evenly throughout $205,$ and its operating expenses were incurred evenly throughout $205.$

The dividends were declared and paid on July $1,205.$

Pirate's income from its own operations was $$249,000$ for $205,$ and its total stockholders' equity on January $1,205,$ was

$$3,600,000.$ Pirate declared $$150,000$ of dividends during $205.$

Exchange rates were as follows:

Required

Prepare a schedule providing a proof of the translation adjustment

Note: Amounts to be deducted should be Indleated with a minus sign.