On January 1, 20X5, Plrate Company acquired all of the outstanding stock of Ship Inc., a Norweglan company, at a cost of $167,400. Ship's net assets on the date of acquisition were 740,000 kroner (NKr). On January 1, 20X5, the book and fair values of the Norweglan subsidlary's Identifiable assets and llabilitles 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 Iffe of Ship's equipment at January 1,205, was 10 years. The remainder of the differentlal was attributable to a patent having an estimated useful life of 5 years. Ship's trlal balance on December 31,205, in kroner, follows: Additional Information: 1. Ship uses the FIFO method for its Inventory. The beginning Inventory was acquired on December 31,204, and ending Inventory was acquired on December 15,205. Purchases of NKr420,000 were made evenly throughout 205. 2. Ship acquired all of its property, plant, and equipment on July 1, 203, and uses straight-line depreciation. 3. Ship's sales were made evenly throughout 20X5, and its operating expenses were incurred evenly throughout 205. 4. The dividends were declared and paid on July 1,205. 5. Plrate's income from its own operations was $236,000 for 205, and its total stockholders' equity on January 1,205, was $3,500,000. Prate declared $190,000 of dividends during 205. 6. Exchange rates were as follows: Requlred: Prepare a schedule providing a proof of the translation adjustment. (Amounts to be deducted should be Indlcated with a minus sign.)