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On January 1, 2018, Veldon Co., a U.S. corporation with the U.S. dollar as its functional currency, established Malont Co. as a subsidiary. Malont is

On January 1, 2018, Veldon Co., a U.S. corporation with the U.S. dollar as its functional currency, established Malont Co. as a subsidiary. Malont is located in the country of Sorania, and its functional currency is the stickle (). Malont engaged in the following transactions during 2018

January 1, 2018 Issued common stock for 500,000

July 14, 2018 Sold a patent at a gain of 40,000

October 1, 2018 Paid dividends of 60,000

Malonts operating revenues and expenses for 2018 were 800,000 and 650,000, respectively.

The appropriate exchange rates were:

date stickle us dollars
1-Jan 1 2.5
14-Jul 1 2.1
1-Oct 1 2.6
31-Dec 1 2.7
average 2018 1 2.4

Required:

Calculate the translation adjustment for Malont. (Round your answers to the nearest whole dollar.)

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