Adams corporation acquired 90 percent of the outstanding voting shares of barstow, inc., on december 31, 2016. adams paid a total of $603,000 in cash for these shares. the 10 percent noncontrolling interest shares traded on a daily basis at fair value of $67,000 both before and after adams’s acquisition. on december 31, 2016, barstow had the following account balances:

Yang corporation starts a foreign subsidiary on january 1 by investing 20,000 rand. yang owns all of the shares of the subsidiary’s common stock. the foreign subsidiary generates 40,000 rand of net income throughout the year and pays no dividends. the rand is the foreign subsidiary’s functional currency. currency exchange rates for 1 rand are as follows: lo 10-3 january $0.25 = 1 rand average for the 0.28 = 1 december 0.31 = 1 in preparing consolidated financial statements, what translation adjustment will yang report at the end of the current year? a. $400 positive (credit). b. $1,000 positive (credit). c. $1,400 positive (credit). d. $2,400 positive (credit). hoyle, joe ben; hoyle, joe ben. advanced accounting (page 513). mcgraw-hill higher education. kindle edition.