Watson Company has a subsidiary in the country of Alonza where the local currency unit is the kamel (KM). On December 31, 2014, the subsidiary has the following balance sheet: Cash Inventory Land Building Accumulated depreciation KM 15,000 Notes payable (due 2016) 23,500 Common stock 5,000 Retained earnings 60,000 (30,000) KM 28,500 30,000 15,000 KM 73,500 KM 73,500 The subsidiary acquired the inventory on August 1, 2014, and the land and buildings in 2000. It issued the common stock in 1998. During 2015, the following transactions took place: 2015 Feb. 1 Paid 16,000 KM on the note payable. May 1 Sold entire inventory for 31,500 KM on account. June 1 Sold land for 6,100 KM cash. Aug. 1 Collected all accounts receivable. Sept.1 Signed long-term note to receive 10,500 KM cash. Oct. 1 Bought inventory for 15,000 KM cash. Nov. 1 Bought land for 5,000 KM on account. Dec. 1 Declared and paid 4,000 KM cash dividend to parent. Dec. 31 Recorded depreciation for the entire year of 3,000 KM. The exchange rates for 1 KM are as follows: 1 KM 1 = = 1998 2000 August 1, 2014 December 31, 2014 February 1, 2015 May 1, 2015 June 1, 2015 August 1, 2015 September 1, 2015 October 1, 2015 November 1, 2015 December 1, 2015 December 31, 2015 Average for 2015 $0.26 0.24 0.34 0.36 0.38 0.40 0.42 0.44 0.46 0.48 0.50 1 1 1 1 1 = = = = = 0.52 0.56 0.46 a. If this is a translation, what is the translation adjustment determined solely for 2015? Positive translation adjustment